The Overseas Investors Chamber of Commerce and Industry (OICCI), representing over 200 of Pakistan’s leading foreign investors, has issued its annual contribution report for 2024, showing members contributed Rs. 2.7 trillion in taxes.
In a statement, the OICCI said its members had continued to demonstrate resilience and long-term confidence in Pakistan’s market despite challenging macroeconomic conditions. It said member companies had achieved a profit before tax of Rs. 1.2 trillion, reflecting a robust average growth of 34% (2020-2024) in rupee terms. The aggregate turnover exceeded Rs. 11 trillion, with members contributing Rs. 2.7 trillion in taxes, almost Rs. 10 billion on a daily basis. This, it claimed, was equivalent to 30% of the Federal Board of Revenue (FBR)’s total tax collections. The total assets held by OICCI members stood at Rs. 34 trillion, while capital expenditure reaching over Rs. 470 billion during the same period.
Over the past decade, foreign investors operating in Pakistan, particularly members of OICCI, have shown greater sustained confidence than new or potential investors, read the statement. Between FY2015 and FY2024, OICCI members’ cumulative capital investment stood at $22.9 billion, exceeding Pakistan’s total net foreign direct investment inflows of $22.1 billion during the same period. This consistent reinvestment highlights the trust that established foreign companies place on the country’s long-term economic potential.
Sector-wise, Oil and Gas, Banking, Telecommunications, and Chemical industries remained key contributors, accounting for the majority of turnover, assets, and taxes. The Banking and Finance sector alone represented 73% of total member assets, reflecting both profitability and expansion across financial services.
Commenting on the findings, OICCI Secretary General M. Abdul Aleem said the “continued performance of OICCI members, who come from 30 countries and operate in 13 key sectors, is a testament to their deep-rooted commitment to Pakistan’s progress.” He noted OICCI members had sustained and expanded their investments even in the face of global volatility and domestic challenges, creating jobs, paying significant taxes, and driving innovation across industries.
“As the first port of call for foreign investors in Pakistan, OICCI will continue to advocate for policy reforms that unlock greater potential, attract new FDI, and ensure sustainable economic growth,” he added.