Massive surge in Foreign Direct Investment in Pakistan in FY 2019 - 20
ISLAMABAD: Massive surge in Foreign Direct Investment in Pakistan in FY 2019 - 20.
Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said that foreign direct investment in the country has witnessed a surge of 66 per cent during seven months of the year 2019-20 as compared to the last year.
Taking to Twitter, Hafeez Sheikh said, “Foreign Direct Investment rises 66% to $1.56 billion in July-Jan 2020 as compared to the same period last year. In January 20, net FDI was $223 million, 52% higher than January 19.”
Earlier on Feb 12, addressing on the floor of the National Assembly, Abdul Hafeez Shaikh said Pakistan was on the verge of default due to current account deficit and other economic indicators when PTI government came into power. He termed the root cause of the problems being faced by the country, nowadays, is the loan of rs.30000 billion.
He said country’s foreign exchange reserves saw a massive fall due to wrong economic policies of the PML-N. The adviser said the value of the dollar was maintained artificially, which also affected our exports.
Mr Shaikh said the country’s economy is improving now and the IMF had endorsed that Pakistan has achieved all of its targets in its latest review report.