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$114.3m FDI recorded for Pakistan in July

$114.3m FDI recorded for Pakistan in July

KARACHI: The Foreign Direct Investment (FDI) in Pakistan reached up to $114.3 million during July 2020, as compared to the net inflow of $71.1 million in the same time period last year, showing an increase of 60.8 percent.

State Bank of Pakistan’s (SBP) latest data shows that foreign private investment of $41.1 million was made in July 2020 as compared to $105 million made in the same period last year.

While this shows an almost 61 percent decline, the foreign investment in the public sector offset this as it stood at $66.1million in July 2020 as compared to zero public sector FDI in July last year.

China was the biggest FDI investor with $27.1 million in July 2020, as compared to $17.4 million invested in the same period last year, s per SBP reports. The second highest investor was Malta with net FDI of $18.5 million during July, as compared with a net investment of $18.5 million that Malta made in the same period in 2019. Netherlands followed as the third highest FDI investor for Pakistan in the month of July with $17.9 million.

On the other hand, outflows of $39.4 million were sent to the United States and $21.8 million were sent to the United Kingdom in July 2020. Majority of FDI coming to Pakistan was for Electrical Machinery sector, amounting to $29 million, followed by Financial Business sector that brought $24 million. Communications Sector also stood significant for attracting net FDI of $22 million in July 2020.