Gallup Pakistan releases new Business Confidence Index report
- By Anjum Wahab -
- Nov 17, 2025
KARACHI: Gallup Pakistan has released the 16th wave of its Business Confidence Index (BCI) for Pakistan. The latest survey shows a slight drop in business confidence compared to the second quarter of 2025, while overall sentiment remains stronger than the same period in 2024.
According to the survey, the number of businesses that view the current business situation as positive has dropped from 20percent in the last survey to 8percent this quarter, meaning fewer companies now feel conditions are good.
Expectations for the future have also weakened. In the previous survey, 22percent of businesses had positive expectations, but this has now dropped to 12percent. Views about the overall direction of the country also fell from –2percent to –8percent, showing increased concern.
Despite this decline, Gallup Pakistan says that business confidence is still better than in previous years, which gives some hope for improvement ahead.
Inflation remains the biggest challenge for companies. 33percent of respondents said that controlling prices should be the government’s top priority. Although inflation had been declining recently, food and energy prices have risen again in the last few months.
The issue of load-shedding continues to hurt businesses. 42percent of companies reported facing power outages, almost the same as last year. Even with government investment in the power sector, electricity shortages are still affecting production and economic activity.
Regarding economic policies, 46percent of businesses expressed more confidence in the current government’s policies compared to those of Pakistan Tehreek-e-Insaf (PTI). This is a 5percent increase from last year.
Bilal Gilani, Executive Director of Gallup Pakistan and Director of the Economic Indicators Series, said that although business confidence has slightly fallen this quarter, the overall trend remains positive.
He added that businesses believe that “stability alone is not enough” and that strong and continuous economic growth is needed to keep confidence high. He also said many businesses remain hopeful that the PML-N government can deliver reforms and economic relief.
The BCI survey for the fourth quarter of 2025 was conducted from October 22 to 25, covering 571 businesses from manufacturing, services, construction, retail/wholesale, and financial sectors across more than 40 districts in all four provinces, Gilgit-Baltistan, and Azad Jammu and Kashmir.
The Business Confidence Index is part of Gallup Pakistan’s Economic Indicators Series, which also includes the Consumer Confidence Index. The survey is carried out in partnership with Dun & Bradstreet Pakistan.