OICCI Members Contribute Rs2.7 Trillion in Taxes, Show Strong Economic Impact

Karachi: The Overseas Investors Chamber of Commerce and Industry (OICCI) has reported a significant fiscal contribution from its members, with taxes amounting to Rs2.7 trillion during the 2024 fiscal year. Representing over 200 of Pakistan’s top foreign investors, the OICCI’s annual report indicates a robust growth trajectory and sustained economic impact despite challenging macroeconomic conditions.

OICCI member companies achieved a profit before tax of Rs1.2 trillion, marking an average growth of 34 percent in PKR terms from 2020 to 2024. The total turnover surpassed Rs11 trillion, with daily contributions in government levies averaging nearly Rs10 billion. These contributions accounted for 30 percent of the Federal Board of Revenue’s total tax collections. The members’ total assets were recorded at Rs34 trillion, with capital expenditure exceeding Rs470 billion.

Over the past decade, foreign investors, particularly those affiliated with OICCI, have shown more sustained confidence in Pakistan’s market than new or potential investors. From FY2015 to FY2024, OICCI members’ cumulative capital investment reached USD 22.9 billion, outpacing the country’s total net foreign direct investment inflows of USD 22.1 billion. This consistent reinvestment underscores the trust established foreign companies place in Pakistan’s economic prospects.

Key sectors such as Oil and Gas, Banking, Telecommunications, and Chemicals emerged as major contributors, dominating turnover, assets, and tax contributions. The Banking and Finance sector alone accounted for 73 percent of total member assets, highlighting its profitability and growth within financial services.

M. Abdul Aleem, Secretary General of OICCI, remarked on the findings, emphasizing the commitment of OICCI members to Pakistan’s development. He noted that despite global volatility and domestic challenges, these companies have expanded their investments, created jobs, and driven innovation. OICCI aims to continue advocating for policy reforms to attract new foreign direct investment and ensure sustainable growth.

OICCI members, representing over 30 countries across 13 sectors, remain among the largest contributors to Pakistan’s fiscal health, infrastructure development, and export competitiveness.