Foreign Direct Investment Reaches $317.4 Million In October

Aizbah KhanWeb Editor

16th Nov, 2020. 06:12 pm
Dollar rate

Foreign direct investment (FDI) in Pakistan stood at a 10-month high of 31 311.4 million in October, accounting for 43.3% of investment during the current financial year.

According to figures released by the State Bank of Pakistan (SBP), FDI inflows in October 2019 were 16 166.5 million.

Last month, China invested  $228.7 million in Pakistan, compared to about $239 million in the energy sector alone.

According to the data, during the four months from July to October of the fiscal year 2020, FDI increased by 9% to  $733 million from $672 million in the same period last year.

According to SBP data, overall foreign investment declined by more than 64% year-on-year, from $698.2 million to 42 425 million.

The main reasons for the decline in total foreign investment are the repayment of loans and securities at 16 161.2 million and 59 598 million, respectively.

According to the State Bank of Pakistan report, China topped the list of foreign investors in the last four months, with  $332.1 million invested.

Malta came in second with  $74 million, followed by the Netherlands with 51.5 million, followed by China with  $64.3 million.

The energy sector ranks first in foreign investment, with 35 352.3 million,  $118.5 million in the financial sector and 8 83.1 million in oil and gas.

During the current financial year and the last two quarters, investors, with the help of their companies and the government, introduced the securities in the stock market due to COVID-19, low-interest rates and the appreciation of the rupee against the dollar.

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