Foreign firms repatriate $1.5 billion as profit, dividend in 11 months

Shahnawaz AkhterWeb Editor

28th Jun, 2021. 09:09 pm
Foreign firms repatriate $1.5 billion as profit, dividend in 11 months

KARACHI: The foreign companies have repatriated profits and dividends worth $1.5 billion during 11 months (July-May) 2020/21, which is 19 per cent higher, compared with $1.21 billion in the same period of the last fiscal year, the State Bank of Pakistan (SBP) reported on Monday.

The multinational and foreign entities operating in Pakistan repatriated $1.38 billion against the foreign direct investment (FDI) during the first 11 months of the current fiscal year, compared with $1.077 billion in the corresponding months of the last fiscal year, showing an increase of 28.31 per cent.

However, the outflows against portfolio investment in the stock market witnessed a decline of 17 per cent to $114 million during July-May 2020/21, compared with $137.6 million in the same period of the last fiscal year.

The major repatriation of profits and dividends of $318 million was seen in the financial business during the period under review. Other major repatriation of profits and dividends has been seen in telecommunication, food, tobacco, oil and gas, transport, sectors etc.

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