CORPORATE WINDOW: Investing in the future

In Pakistan, as elsewhere, the continuing multiple crises are opening up new opportunities for a gradual shift in policy and business practices as changing ground realities tend to destabilise the status quo. This emerges from the views of firm owners about present business conditions, future business outlook as well as the increasing number of new firms incorporated with the Securities and Exchange Commission of Pakistan (SECP). The private sector is under enormous distress and its investments have dried up consistently, says the Federation of Pakistan Chamber of Commerce and Industry. The Overseas Chamber of Commerce and Industry (OCCI) warns policymakers of a ‘mass industrial layoff’ caused by curbs on the import of industrial raw materials. An OICCI survey shows that one of every two respondents is either decreasing production or laying off staff. And half of the participants are either considering restructuring or shutting down partially/fully. Perhaps, the long-term solution lies in restructuring. Earlier, the OCCI stated that some of its members were also trying to reduce imports by using local raw materials.