Survey reveals boost in business confidence despite economic, political challenges

Demonstrating a steady revival of sentiment, business morale among stakeholders has improved markedly, accompanied by an optimistic economic outlook, a survey conducted by Gallup Pakistan showed on Tuesday, as the country seeks to set its growth trajectory on course through tough reforms. The economy grew by 0.92% in the first quarter of the fiscal year 2024-25, despite a contraction in the industrial sector, according to data released by the Pakistan Bureau of Statistics (PBS) last month. A survey of business owners in the fourth quarter of 2024 — as part of the Gallup Business Confidence Index (BCI) report — revealed a notable reduction in pessimism among businesses about how they perceive their current prospects as well as the overall direction of the country.