OICCI, IMF discuss path from macroeconomic stability to sustainable growth

February 26, 2026 (MLN): Pakistan must now transition from macroeconomic stabilization to a sustained, export-led growth trajectory to translate recent economic gains into higher productivity, employment, and investment.

This was convened by the Overseas Investors Chamber of Commerce and Industry (OICCI) with a visiting delegation from the International Monetary Fund (IMF), led by Iva Petrova and Mahir Binici.

The meeting brought together CEOs of leading multinational member companies to exchange views on Pakistan’s economic outlook and the operating environment for foreign investors, according to a press release issued.

OICCI President Mr. Yousaf Hussain welcomed the progress achieved under the ongoing reform programme, noting that fiscal consolidation is strengthening, primary balance discipline is improving, and reserve buffers are rebuilding.

He said inflation is moderating and recent improvements in Pakistan’s credit ratings reflect enhanced fiscal discipline and renewed international credibility.

However, he emphasized that stabilization alone is not sufficient.

He called for a centrally coordinated, technocrat-supported and well-sequenced medium-term reform programme under a comprehensive National Economic Plan.

Such a framework, he added, should integrate fiscal, trade, industrial, energy, and human capital policies with clear milestones, transparent monitoring, and stronger coordination between federal and provincial governments.

OICCI Secretary General Mr. M. Abdul Aleem emphasized Pakistan’s strong geo-economic potential, saying it can be unlocked through greater policy coherence, predictability, and investment-friendly regulatory reforms. He stressed the importance of incentivizing export-led industrialization to attract sustained long-term capital inflows.

Mr. Aleem also highlighted structural weaknesses in the taxation framework, particularly the narrow tax base and the disproportionate burden on the documented and compliant sectors, including salaried individuals.

He called for a rationalized and competitive tax and import tariff regime, backed by a consultative tax policy function and a clear medium-term direction.

Avoiding retrospective taxation, ensuring timely clearance of pending tax refunds, simplifying compliance procedures, and strengthening documentation and enforcement across the economy are equally critical to restoring investor confidence, he added.

The OICCI reaffirmed its commitment to continued engagement with policymakers and international partners to support reforms aimed at sustaining economic stability and promoting long-term investment in Pakistan.

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