PTI government faces an economic setback in the FY 2019
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KARACHI – PTI government faces an economic setback in the FY 2019 as the foreign direct investment registers massive decline.
The total foreign investment plunged by 58 per cent in the first two months of this fiscal year FY2019-20, according to the latest data from the State Bank of Pakistan (SBP) on Wednesday.
The total investment fell to US $157 million during July and August, lower by 58 per cent. This could possibly be a worrying sign for the government which has been met with a severe shortage of dollars since coming into power amid massive current account deficit.
The overall net foreign direct investment (FDI) increased by 6.7 per cent and amounted to $264 million during the same period. On the other hand, portfolio investment amounted to $107 million during the two months.
