The Overseas Investors Chambers of Commerce and Industry (OICCI) conducted a poll in September-October 2022.
In the previous March-April poll, business confidence was also low (17%) but optimistic. The OICCI says the drop in business confidence isn’t surprising given the political and economic climate.
Government and State Bank of Pakistan (SBP) worry over falling foreign reserves. As a result, Pakistan has requested $3bn in cash from Saudi Arabia to help satisfy external financial needs in the upcoming quarter.
In addition, a $1.2bn oil import facility from Riyadh is also being sought. Although, the Kingdom rolled over a $3bn SBP deposit. Authorities anticipate Saudi Arabia will grant Islamabad $3bn in cash deposits and $1.2bn in oil payments.
On the China front, the government thinks China will grant even larger debt rollovers. So before releasing $1.2bn, the IMF is performing its ninth examination of Pakistan’s economy.
The motion of confidence toppled Imran Khan’s PTI-led coalition government in April 2022. Since then, the country has been plagued with drastic political shifts and uncertainty for foreign investors.
The shift in military command at the end of November has led to political stability, but on the ground, it relies on the PML-N and Khan’s PTI in the next days and weeks.
It is unknown when China and Saudi Arabia will reply to Pakistan’s request and when the IMF will begin its review.
 conducted a poll in September-October 2022.){kind=link}