KCCI: Karachi Business Sentiment Survey Report
Published in: April 2020
KCCI in its relentless efforts to serve the business community of the metropolis launched its first ‘Karachi Business Sentiment Survey’ on 1st Jan’20 and concluded collection of response on 15th Mar’20. A total of 1,103 manufacturers, service providers and traders from diverse sectors filled the survey. Majority of the responders experienced at least some friction in business activities with general pessimism prevailing in nearly all sectors. These businesses are also skeptical on growth prospects in 2020 which is worrying since the Coronavirus Pandemic is likely to have further dampened the situation. Rupee depreciation, unprecedented rise in utility costs and Pakistan’s outdated tax system clogged with anomalies and complexities were said to be the biggest challenges for businesses. Nearly half of the responders claimed to have laid off workers in 2019.
The initiative was launched on the directives of Mr. Siraj Kassam Teli Chairman BMG & Former President KCCI and Mr. A.Q Khalil General Secretary BMG & Former President KCCI, besides being supported and facilitated by Mr. Agha Shahab Khan President KCCI, Mr. Arshad Islam SVP KCCI and Mr. Shahid Ismail VP KCCI. Karachi Business Sentiment Survey proved to be a useful tool and KCCI is all set to continue pushing its boundaries of unparalleled efforts by serving the business community.