KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has expressed its dismay over unexpected low foreign direct investment (FDI) during the previous fiscal year.

The 58 per cent fall in FDI to $0.7 billion in 2014-15 from $1.7bn a year ago is alarming, it said in a press release issued on Thursday. OICCI President Atif Bajwa said the situation shows that `potential overseas investors have not been able to shake off their negative perception of Pakistan despite recent stabilisation of the economic and security situation and improved business confidence within the country`.

It seems that before committing mediumto longterm investments, foreign investors would like to see further evidence of improvement in policy implementation, transparency in governance, and sustained stability in the security environment, he added.-Reporter