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World


Pakistan records 52 pc in FDI

Pakistan records 52 pc in FDI

Karachi, May 23 (UNI) Foreign direct investment (FDI) dropped 52 per cent to 1.37 billion dollar in first 10 months (Jul-Apr) of the current fiscal year due to spread of economic uncertainty.

The FDI had been recorded at $2.84 billion in the same period of previous year, the State Bank of Pakistan (SBP) reported on Tuesday.

Overseas Investors Chamber of Commerce and Industry (OICCI) Secretary General M Abdul Aleem said " Economic uncertainty prompted foreign firms to put their investment decisions on hold for the time being,”

A long delay in finalising terms and conditions of an International Monetary Fund (IMF) loan programme worth $6 billion caused a deep economic uncertainty as Pakistan faced a major balance of payments challenge.

The economic uncertainty had also led to a slowdown in investment from the largest foreign investor China.

“Pakistan is expected to witness an increase in China’s investment under the banner of China-Pakistan Economic Corridor (CPEC) after Prime Minster Imran Khan paid a visit to Beijing recently, The Express Tribune reported.



Pakistan recorded a net outflow of $22.6 million in the first 10 months under the head of foreign investment compared to a net inflow of $5.16 billion in the same period of last year. The foreign investment turned negative after Pakistan paid $1 billion for the matured Eurobond some time ago.

China was the largest foreign direct investor in Pakistan as it invested $429 million in the first 10 months of FY19. This was, however, one-fourth of the total investment of $1.72 billion it made in the same period of last year.

The United Kingdom emerged as the second biggest investor as it invested $159.9 million compared to investment of $265 million in the same period of last year.

Hong Kong emerged as the third largest investor with investment of $132.7 million compared to $145.4 million in the corresponding period of last year.

Malta divested a net $116.6 million in the 10 months compared to no investment/divestment in the same period of last year.

UNI XC KPV 0702

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