Yousaf Hussain, the President and CEO of Faysal Bank Ltd., has been elected as the new president of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2024-2026 term. The announcement came during the Chamber’s Extraordinary General Meeting on Monday. Alongside Hussain, Jason Avancena, the Managing Director and CEO of Nestle Pakistan Ltd., was elected as the senior vice president, and Syed Ali Akbar, Managing Director and CEO of Pakistan Tobacco Company (Pvt) Ltd., will serve as vice president.
The newly elected Managing Committee for the 2024-2026 term is composed of key business leaders from sectors such as banking, telecommunications, pharmaceuticals, and manufacturing, highlighting OICCI’s influential position in Pakistan’s economic development. The members of the new Managing Committee include Yousaf Hussain of Faysal Bank Ltd., Jason Avancena of Nestle Pakistan Ltd., Syed Ali Akbar of Pakistan Tobacco Company (Pvt) Ltd., Aamir Hafeez Ibrahim of Pakistan Mobile Communications Ltd. (Jazz), Ahmed Khan Bozai of Citibank NA, Pakistan, Asif Ahmad of IBM Italia SPA, Farheen Salman Amir of Lipton Pakistan Ltd., Fahd K Chinoy of Pakistan Cables Ltd., Hafsa Shamsie of Roche Pakistan Ltd., Javed Ghulam Mohammad of Martin Dow Marker Ltd., M Adil Khattak of Attock Refinery, and Muhammad Jawaid Iqbal of United Bank Ltd.
This leadership team is set to focus on shaping policies that aim to create a more favorable investment climate in Pakistan. The Chamber’s leadership is expected to leverage their combined expertise to drive initiatives that support economic growth, attract foreign investment, and engage in policy reform discussions with the government.
During his address to OICCI members, Yousaf Hussain emphasized the significant opportunities and challenges present in Pakistan’s current economic environment. He acknowledged the easing inflation and slight GDP growth recovery but pointed out the structural challenges the country continues to face. He emphasized that these challenges present opportunities for pushing much-needed reforms, driving innovation, and fostering a sustainable business environment. Hussain’s comments reflect a forward-looking approach that sees potential for growth even in difficult economic conditions. His vision for OICCI’s role in shaping Pakistan’s economic policies underscores the importance of collaboration between the private sector and government.
Outgoing president Rehan Shaikh, who will remain on the Managing Committee as an ex-officio member, highlighted the OICCI’s continued efforts to engage with government bodies and offer strategic solutions to the country’s pressing economic challenges. He praised the Chamber’s efforts during the 2023-2024 term, which included showcasing Pakistan’s investment opportunities to foreign delegations and potential investors. These initiatives aimed to position Pakistan as a promising destination for foreign direct investment (FDI), despite global economic uncertainties. Shaikh expressed optimism about Pakistan’s future economic prospects, stating that the Chamber remains committed to unlocking the country’s full potential.
Yousaf Hussain brings over 25 years of professional experience to his role as OICCI president. Throughout his career, he has held leadership positions in multinational organizations and has been actively involved in strategic initiatives within the banking and financial sectors. His work has often intersected with the State Bank of Pakistan, where he has been a key figure in policy discussions surrounding economic reform and growth. Hussain’s deep understanding of the country’s financial ecosystem positions him well to lead OICCI during this pivotal time for Pakistan’s economy.
As OICCI’s newly elected president, Hussain is expected to lead the organization in its mission to foster economic development, enhance investor confidence, and drive innovation across sectors. His leadership will be critical in shaping the Chamber’s engagement with government bodies and stakeholders, ensuring that Pakistan continues to attract foreign investment and remains competitive on the global stage.