Outflow of profit and dividends from Pakistan surges 20.5% in FY21

KARACHI: Foreign companies have repatriated $1.62 billion as profit and dividends during the fiscal year 2020/21, according to the data released by the central bank on Wednesday.

The repatriation of profit and dividends during FY21 is 20.5 per cent higher, compared with $1.34 billion in the preceding fiscal year, the State Bank of Pakistan data showed.

The foreign companies operating in Pakistan have repatriated $1.49 billion against the foreign direct investment (FDI) during the fiscal year under review, compared with $1.2 billion in the preceding fiscal year, showing an increase of 24.16 per cent.

However, the outflow against portfolio investment in the stock market witnessed a decline of 7.7 per cent to $132 million during July-June 2020/21, compared with $143 million in the same period of the last fiscal year.

Major repatriation of profits and dividends worth $337 million was seen in the financial business during the period under review. Other major repatriation of profit and dividends has been seen in sectors, including telecommunication, food, tobacco, oil and gas, transport, etc.

The British companies operating in Pakistan have made major repatriation of profit and dividends during the fiscal year under review.

The British companies repatriated $546.70 million during the fiscal year 2020/21, compared with $282 million in the preceding fiscal year.

The US companies have repatriated $270 million during 2020/21 compared with $192.7 million in the preceding fiscal year.

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