FDI higher than last year, State Bank data reveals
Oil and gas sector attracts highest amount in July-March period.
FDI remained $63.5 million in March, 45.6% less than $116.8 million recorded in the same month of the preceding fiscal year. PHOTO: FILE
KARACHI:
Pakistan received foreign direct investment (FDI) of $669.8 million in the first nine months of 2013-14, which is 6.14% higher than the amount the country received in the corresponding nine-month period of the preceding fiscal year, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
FDI remained $63.5 million in March, 45.6% less than $116.8 million recorded in the same month of the preceding fiscal year.
FDI in the first half of the ongoing fiscal year was $416.1 million, 26.8% lower than the amount the country received in the corresponding six months of the preceding fiscal year. Pakistan received FDI worth over $1.4 billion in 2012-13.
The oil and gas sector attracted the highest amount of FDI in the July-March period. It attracted a net foreign investment of $346.9 million. However, it was 18.58% lower than the investment of $426.1 million that the sector received in the corresponding nine-month period in the preceding fiscal year.
Sectors of the economy that received major FDI during the last nine months include financial businesses ($118.7 million), chemicals ($76 million), tobacco and cigarettes ($55.5 million), food ($73 million) and beverages ($23.5 million).
In contrast, a major dip in FDI was registered in the telecommunications sector, where the net outflow of investment remained $138.4 million during the period under review. Other sectors that witnessed a considerable net outflow of FDI in July-March were petroleum refining ($13.2 million), electrical machinery ($10.8 million), trade ($15.2 million) and transport ($5.8 million).
As for foreign portfolio investment (FPI), which includes foreign public investment, Pakistan attracted $112.9 million during the July-March period, down 42% from $194.9 million in the comparable nine months of the last fiscal year.
Countries that brought significant amounts of FDI into Pakistan during the period under review include Switzerland ($193.3 million), United States ($172.1 million), Hong Kong ($174 million), United Kingdom ($82 million), Italy ($52.6 million), France ($53.5 million), Austria ($47.4 million) and Oman ($35.4 million).
Countries that took out major investments out of Pakistan in the last nine months are Norway ($41.3 million), Qatar ($43.9 million), Saudi Arabia ($33.5 million) and Singapore ($35 million).
Published in The Express Tribune, April 16th, 2014.
Pakistan received foreign direct investment (FDI) of $669.8 million in the first nine months of 2013-14, which is 6.14% higher than the amount the country received in the corresponding nine-month period of the preceding fiscal year, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
FDI remained $63.5 million in March, 45.6% less than $116.8 million recorded in the same month of the preceding fiscal year.
FDI in the first half of the ongoing fiscal year was $416.1 million, 26.8% lower than the amount the country received in the corresponding six months of the preceding fiscal year. Pakistan received FDI worth over $1.4 billion in 2012-13.
The oil and gas sector attracted the highest amount of FDI in the July-March period. It attracted a net foreign investment of $346.9 million. However, it was 18.58% lower than the investment of $426.1 million that the sector received in the corresponding nine-month period in the preceding fiscal year.
Sectors of the economy that received major FDI during the last nine months include financial businesses ($118.7 million), chemicals ($76 million), tobacco and cigarettes ($55.5 million), food ($73 million) and beverages ($23.5 million).
In contrast, a major dip in FDI was registered in the telecommunications sector, where the net outflow of investment remained $138.4 million during the period under review. Other sectors that witnessed a considerable net outflow of FDI in July-March were petroleum refining ($13.2 million), electrical machinery ($10.8 million), trade ($15.2 million) and transport ($5.8 million).
As for foreign portfolio investment (FPI), which includes foreign public investment, Pakistan attracted $112.9 million during the July-March period, down 42% from $194.9 million in the comparable nine months of the last fiscal year.
Countries that brought significant amounts of FDI into Pakistan during the period under review include Switzerland ($193.3 million), United States ($172.1 million), Hong Kong ($174 million), United Kingdom ($82 million), Italy ($52.6 million), France ($53.5 million), Austria ($47.4 million) and Oman ($35.4 million).
Countries that took out major investments out of Pakistan in the last nine months are Norway ($41.3 million), Qatar ($43.9 million), Saudi Arabia ($33.5 million) and Singapore ($35 million).
Published in The Express Tribune, April 16th, 2014.