In another positive economic development, $2 billion injected in Pakistani economy
ISLAMABAD - In another positive economic development, $2 billion injected in Pakistani economy.
Pakistan has continued to receive handsome inflows and the net Foreign Direct Investment (FDI) crossed the $2 billion mark in the first five months of the financial year 2019-20.
The net FDI inflows during the period of July to October recorded at $1.102 billion, as inflows of $904 million received in the subsequent month of November the overall net FDI surged to $2.006 billion in the first five months of 2019-10, according to the State Bank of Pakistan (SBP).
FDI in the real sector, a part of the net FDI, registered a staggering growth of 78 percent year-on-year during the period of July to November 2019. It increased to $850 million this year as compared to the corresponding period of last year in which it stood at $477 million.
FDI from Norway recorded the highest value of $344 million due to the investment of Telenor Pakistan. It was followed by China with an investment of $142 million for the ongoing projects under China-Pakistan Economic Corridor and UK with over $100 million.
Telecommunication is the leading sector with the highest value of FDI, that is, $280 million. It is followed by electrical machinery, oil and gas exploration, and power sectors. FPI Receives Handsome Inflows
The foreign investors are doing their investment in short-term government bonds mainly in T-bills, which received historical high investment for the first time this year. Foreign Portfolio Investment (FPI) received handsome inflows of over $1 billion during the period of July to November 2019.