*ISLAMABAD – As signs of economic stabilization emerge, financial expertanticipates foreign investment in Pakistan to hit $6 billion by the end ofthis fiscal year.*
“At the beginning of the current fiscal year, we were anticipating foreigninvestment of up to $3 billion to $4 billion, but looking at the presentscenario, these figures seem quite low, we could now hit $5bn to $6bn,”said CEO Topline Securities, Mohammad Sohail .
The financial expert said that international investor has no better optionelsewhere as interest rates are declining globally, Pakistan is the onlyexception where one can reap double digit returns.
“The international investors, are not only confident on the stabilizationof Pakistan economy, they are also optimistic that the IMF quarterlymonitoring would keep the economy on track, and lastly the investorbelieves that the PKR would not depreciate further,” said Sohail.
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Foreign investment in the government’s debt instruments, including MarketTreasury Bills (T-bills) and Pakistan Investment Bond (PIBs) surged to $2.26billion during this fiscal year (FY20).
According to State Bank of Pakistan (SBP), foreign investment in T-billshas recorded largest single day inflows of $536 million on January 16, 2019in Special Convertible Rupee Account (SCRA). With the arrival of theseinflows total net foreign investment in T-bills and PIBs reached $2.26billion.
