Karachi, September 30, 2024 – Yousaf Hussain, 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 was made during the OICCI’s Extraordinary General Meeting held on Monday, signaling a new leadership phase for the chamber.
Alongside Yousaf Hussain, Jason Avancena, Managing Director and CEO of Nestlé Pakistan Ltd., was elected senior vice president, and Syed Ali Akbar, Managing Director and CEO of Pakistan Tobacco Company (Pvt) Ltd., will serve as vice president. The OICCI’s newly elected Managing Committee brings together a group of influential leaders from various sectors, including banking, telecommunications, pharmaceuticals, and manufacturing, underscoring the chamber’s pivotal role in shaping Pakistan’s economic landscape.
The newly formed Managing Committee for the 2024-2026 term includes the following key business leaders:
1. Yousaf Hussain, Faysal Bank Ltd.
2. Jason Avancena, Nestlé Pakistan Ltd.
3. Syed Ali Akbar, Pakistan Tobacco Company (Pvt) Ltd.
4. Aamir Hafeez Ibrahim, Pakistan Mobile Communications Ltd. (Jazz)
5. Ahmed Khan Bozai, Citibank NA, Pakistan
6. Asif Ahmad, IBM Italia SPA
7. Farheen Salman Amir, Lipton Pakistan Ltd.
8. Fahd K Chinoy, Pakistan Cables Ltd.
9. Hafsa Shamsie, Roche Pakistan Ltd.
10. Javed Ghulam Mohammad, Martin Dow Marker Ltd.
11. M. Adil Khattak, Attock Refinery
12. Muhammad Jawaid Iqbal, United Bank Ltd.
In his address to OICCI members, Yousaf Hussain recognized the challenging yet promising economic environment Pakistan currently faces. “Pakistan today stands at a critical crossroads. While inflation is easing and we’re seeing a slight recovery in GDP growth, the country still faces structural challenges. These, however, also present opportunities for reforms, innovation, and creating a business climate that encourages sustainable development,” Hussain stated.
He outlined his priorities for the OICCI during his term, including driving policy reforms, enhancing the ease of doing business, and promoting investment-friendly initiatives. Hussain’s extensive background, with over 25 years of experience in leadership roles across multinational organizations, positions him as a key player in fostering dialogue with government bodies to support economic reform and growth in Pakistan.
Outgoing OICCI president Rehan Shaikh, who will continue to serve as an ex-officio member of the Managing Committee, highlighted the chamber’s recent efforts to promote Pakistan as a favorable destination for foreign direct investment (FDI). “In the 2023-2024 term, OICCI actively engaged with foreign delegations and potential investors, showcasing the country’s potential for growth,” Shaikh remarked, emphasizing the importance of positioning Pakistan as an attractive market for FDI.
The new leadership team, led by Yousaf Hussain, is expected to drive forward key initiatives to strengthen Pakistan’s economy and enhance its appeal to international investors.
