More than one billion dollars have been sent abroad by multinational companies in last 6 months
ISLAMABAD: Multinational companies have given priority to send its capital abroad instead of investing in Pakistan because of the absence of friendly environment for investment in Pakistan.
As per details, more than $1 billion foreign exchange have been sent abroad by multinational companies in the first seven months of fiscal year 2016 while 81 crore and 50 lakh dollars external investment have been sent to Pakistan during the same period.
25 crore dollars profit have been sent abroad by only financial institutions. Economic experts said that multinational companies are sending its profit abroad and not enhancing its operation in Pakistan.
Economic experts added that government needs to provide friendly environment for foreign investment in order to attract multinational companies to increase its investment and operation in Pakistan.