IMF delegation meets representatives of Overseas Investors Chamber of Commerce

The International Monetary Fund (IMF) delegation, which is on a visit to Pakistan has met with the representatives of Overseas Investors Chamber of Commerce and Industry (OICCI) to discuss the country’s economic outlook.

A statement issued by the OICCI said Pakistan’s fiscal consolidation is strengthening, primary balance discipline is improving, the external account has stabilized with reserve buffers rebuilding, inflation is moderating, and the financial sector remains resilient.

The recent improvement in Pakistan’s credit ratings reflects enhanced fiscal discipline and renewed international credibility under the ongoing reform program, it added.

OICCI President Yousaf Hussain acknowledged the progress achieved in macroeconomic stabilization and emphasized that the priority now was to “transition from stabilization to a phased yet sustained export-led growth path”.

“Translating macroeconomic stability into higher productivity, employment, and investment requires a shift from fragmented measures to a centrally coordinated, technocrat-supported and well-sequenced medium-term reform program under a comprehensive National Economic Plan. Such a plan should integrate fiscal, trade, industrial, energy, and human capital policies with clear milestones, transparent monitoring, and deeper coordination between the federation and provinces to achieve national economic priorities.”

OICCI Secretary General M. Abdul Aleem noted that Pakistan’s strong geo-economic positioning offers significant potential that must be unlocked through greater policy coherence, predictability, and investment-focused improvements in the regulatory framework.

He stressed the need for stronger incentivization of export-led industrialization to attract sustained long-term investment inflows.

“Pakistan’s taxation framework continues to face structural challenges, particularly a narrow tax base and the disproportionate burden on the documented and compliant sector, including the salaried class,” said Mr. Aleem.

“To enhance competitiveness and restore investor confidence, there is a need for a rationalized and competitive tax and import tariff regime, supported by a strong and consultative tax policy function and a clear medium-term policy direction. Equally important is avoiding retrospective taxation, ensuring timely clearance of pending tax refunds, simplifying compliance procedures, and strengthening documentation and enforcement across the economy,” he added.