American Business Council of Pakistan - Karachi
American Business Council of Pakistan (Karachi)
About the American Business Council of Pakistan
The American Business Council of Pakistan (“ABC”) was formed in 1984. It has the distinction of representing the largest group of single country investors in Pakistan. Annual Foreign Direct Investment from USA has averaged nearly 30% of total FDI in the last few years. ABC currently has around 60 Members – most of whom are Fortune 500 companies. They operate in various sectors i.e. healthcare, financial services, information technology, engineering, chemicals & fertilizers, energy, food & beverage, oil & gas and others.
ABC is managed by an Executive Committee that is elected every year by its members and meets monthly to review various aspects of its ongoing initiatives. Depending on the economic cycle the initiatives may vary from year to year and various Sub-Committees are formed, which meet regularly, to ensure that adequate focus is given to important issues affecting majority of its membership. Currently, key issues that are impacting growth of business are considered to be; need to ensure a level playing field; enactment and implementation of intellectual property rights laws; combating corruption and smuggling; tariff rationalization; continued deregulation & privatization; good corporate governance; transparency in Government decision-making; and need to improve infrastructure and law & order situation.
Furthermore, ABC is an effective channel for dialogue with the Government of Pakistan (GoP). Regular suggestions and inputs for improvement are made to the relevant bodies that include, but are not limited to, various ministries, regulatory and tax authorities, throughout the year. The focus of the Executive Committee is to ensure that ABC’s suggestions are incorporated in the annual Federal Budget and Trade Policy. ABC also facilitates direct interaction with the GoP, Provincial and City governments through its guest speaker program, seminars and events all of which are aimed at improving its profile and that of its members and to encourage an ongoing dialogue.
For instance, ABC’s Guest Speakers’ Program provides an excellent opportunity to understand the Government’s national priorities and policies, to present ABC Members’ contributions to the national economy, and to exchange views towards creating an understanding on matters of mutual interest. Under these programs prominent personalities are invited to address the members on subjects of general interest.
ABC members have cumulative revenues of over US$ 2.5 billion and an investment of almost US$ 1.5 billion. Our members contribute a sizable amount to the national exchequer every year as direct and indirect taxes – last year they contributed about Rs. 35 billion. ABC members also employ over 25,000 employees directly who support 125,000 dependents and indirectly employ well over half a million people with agents, distributors, etc. Besides adherence to the highest quality standards, the U.S. investment has brought about transfer of sophisticated technology to Pakistan, which is updated on an ongoing basis.
In addition to the foregoing, ABC members and their parent companies were quick to respond to Pakistan’s recent worst-ever natural disaster. Many of the members and their parent companies are engaged in multiple relief efforts to mobilize funds and relief goods both locally and internationally. The cumulative relief funds and goods committed by ABC members and their Headquarters now exceed Rs. 4.1 billion (US$ 69 million).
ABC is affiliated with the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and is a member of the U.S. Chamber of Commerce (USCC), Washington D.C., and Asia-Pacific Council of American Chambers of Commerce (APCAC). ABC also has a close working relationship with the U.S.-Pakistan Business Council, Washington which is a component of the USCC.
The American Business Council of Pakistan (ABC) was formed in 1984, and represents the largest group of single country investors in Pakistan. ABC has 60 members, most of whom are Fortune 500 companies, with revenues of about US$ 2.5 billion and an investment of almost US$ 1.5 billion, employ over 25,000 employees directly that support 125,000 dependents, and indirectly employ well over 500,000 people with agents, distributors, etc.