$72.7m in FDI received from China

Pakistan received foreign direct investment (FDI) of $72.7 million from China in September, contributing to a total of $126.3 million in the overall FDI during the first three months of the financial year 2023-24 from the friendly neighbouring country.

Citing the latest statistics issued by the State Bank of Pakistan (SBP), Gwadar Pro, a non-governmental organisation, indicated that in September, Pakistan received remittances worth $84.4 million from China, while remittances from Pakistan to China amounted to $11.7 million, resulting in a net income of $72.7 million.

The Gwadar Pro's report stated that in September, China's share in Pakistan's total FDI was 46.66%, as the total FDI in the country in that month remained at $155.8 million.

Similarly, during the first three months (July to September) of the financial year 2023-24, Pakistan received $126.3 million in FDI from China of a total of $412 million in FDI, representing 30.65% of the total FDI.

According to the SBP data, the total FDI in Pakistan during the first three months of the fiscal year 2023-24 was $412 million, marking a significant increase of 28.9% compared to the same period of the previous fiscal year.