We need Hundreds of "Pakistan 100"

The effects of local information environment on the investment decisions of Multinational corporations are of fundamental importance. The information released by various sources in a country should be reliable and authentic so as to give a realistic view of a country’s economy and investment opportunities to the investors.

Pakistan 100 Fast Growing Companies
Pakistan 100 Fast-Growing Companies

One such realistic view was given in March 2012 by “AllWorld Network”. The aim of the AllWorld Network is to "find and scale ALL the growth entrepreneurs of the emerging world by creating the largest information system and network of growth entrepreneurs". Every year, AllWorld publishes a ranking of fastest growing private companies based on their revenue growth. In March 2012, they released PAKISTAN 100, a ranking of the 100 fastest-growing private companies in Pakistan. Among these 100 companies, 87 reached AllWorld’s international standard for competitive fast growth companies, and 12 “start-ups to watch” that tend to be younger but have strong growth prospects that will enable them to meet the criteria in the near future. AllWorld is an international ranking agency but the need of the hour is to develop our own ranking system based on the fair and anti-prejudice mechanism for ranking companies. Such ranking systems not only present a positive picture of a country but also open channels for Foreign Direct Investment. It also shows those areas of the economy which not only generate high revenues but also attract investors. CEO’s of most of the companies in Pakistan 100 have plans to start other businesses. Almost all types of businesses in Pakistan face the problems of political instability, lack of help by the government sector and red tape-ism. But the picture shown by Pakistan 100 is really helpful. A report on Pakistan 100 shows that construction and engineering so far have been the most revenue generating industry followed by agriculture and mining.

Some local sources are also portraying a picture of investment atmosphere in Pakistan for the overseas investors. A big name in this regard is “The Board of Investment Pakistan”.  It aims at the promotion of investment in all the sectors of Pakistan’s economy and facilitation of overseas investors for the quick materialization of their projects and thus increases the global competitiveness of Pakistan. BOI also spreads information about the opportunities for investment and joint venture possibilities. A heading that immediately catches attention at the board’s website is “Pakistan an Investor friendly Heaven” and content under heading justifies that really well. 

There are several advantages of online communication as it provides instant access and availability of up-to-date information. Investors look at the company Web site for the information. Internet is the main source of providing information but authenticity and reliability is something that can be questioned. Investinpakistan.org is another source of information for investors. A section of this site contains success stories about the joint ventures and huge profits that foreign companies create by making an investment in Pakistan. Such examples are evidence that choosing the right sector for investment will render a good return. 

Another important contribution to the provision of information to foreign companies is by organizing conferences. Pakistan Investment Promotion Conference is one such gathering to develop awareness among foreign investors about the veiled investment opportunities in Pakistan. 
Of all the sources of information discussed above, in my view “Pakistan 100” is the best. It not only ranks the companies but also gives them worldwide recognition. It also figured out bottlenecks in the way of investment. Along with international rankings, Pakistan must develop its own independent sources for publicizing investment opportunities and ranking various sectors and also make arrangements for these sources to be recognized globally. Several examples are present that can be followed and Fortune 500 is one such example. Pakistan has the potential to boost its foreign reserves by improving its current information environment and devising new ways to highlight the effective functioning of various sectors of its economy.

Written By:
Tehreem Junaid


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