Lahore show most improvement, increase in street crimes in Karachi
A majority of the foreign investors have shown confidence in the security environment in Pakistan, according to a survey conducted by Overseas Investors Chamber of Commerce and Industry.
OICCI is a collective body of top 200 foreign investors in Pakistan. Every year, the trade association releases its latest Annual Security Survey, covering feedback on the security environment in the commercial centers of Pakistan.
The survey was conducted between May and June this year, which means the survey doesn’t include security developments in July.
About two third of the OICCI members have their head offices in Karachi with operations all over country.
“Compared to the security situation in mid 2020, the overall security environment, has further improved, especially in Lahore (according to 61% of the respondents), KPK (59%), rest of Punjab (53%) and Karachi (51%),” said the survey report.
“However, some of the members have expressed concern in respect to growing street crimes, especially in Karachi,” it added.
In terms of serious crimes, 87% respondents indicated either a decrease over last year or “not an issue” in Lahore and 75% respondents indicated either a decrease over last year or “not an issue” in Karachi.
Similarly, 89%, 75%, and 73% of respondents indicated either a decrease over last year or “not an issue” in KPK, Quetta and rest of Baluchistan. For street crimes, 17% respondents in Karachi, vs 7% last year, indicated significant increase over last year while up to 5 % respondents in rest of the country (Lahore, Islamabad, Quetta, Peshawar) indicated significant increase.
“The positive perception of the security environment by the leading foreign investors operating in the country, is a matter of great satisfaction and also conveys a positive message to potential investors,” said Irfan Siddiqui, the president of OICCI. Siddiqui is also the president and chief executive officer of Meezan Bank.
“The foreign investors have appreciated the continuing focus of our LEAs in improving the security environment, one of the key components for attracting FDI in the country,” Siddiqui said. “Security remains one of the top three concerns for 62% of the respondents, a marginal improvement over 70% respondents in the preceding survey.”
Mohammad Abdul Aleem, CEO and secretary at OICCI, said that OICCI is encouraged with the continuing improvement in the overall security assessment of the foreign investors, which will help in further boosting potential FDI in Pakistan.
The OICCI 2021 Security Survey was responded by over two third of the over 200 members and survey respondents included CEOs and senior management of member organisations.
OICCI Security survey gives feedback of foreign investors operating in Pakistan on various aspect of doing business connected with security and its impact on their operation which is regularly sought by the headquarters of member companies, diplomats of over 30 countries represented at the chamber, security professionals and other stakeholders.