KARACHI: Pakistan received foreign direct investment (FDI) of $75 million in the first month of 2015-16, which is up 307.6% from the FDI received in the same month of the preceding fiscal year.
According to data released by the State Bank of Pakistan (SBP) on Monday, FDI increased by $56.6 million year-on-year in July, as it amounted to $18.4 million in the same month of 2014-15.
The huge year-on-year difference in FDI in July is mainly on the back of the FDI in the power sector, which clocked up at $33.1 million against the corresponding figure of $3.3 million only.
Largest contributor to the FDI during July was China ($53.5 million), followed by Switzerland ($21.6 million) and United Arab Emirates ($15.3 million).
Pakistan received foreign direct investment (FDI) of $709.3 million in 2014-15, which is 58.2% less than the FDI received in the preceding fiscal year. The huge year-on-year difference in FDI last year was a consequence of the high-base effect: the one-time sale of 3G/4G licences had fetched the government $610.9 million in May 2014.
Other sectors of the economy that experienced a considerable net inflow of FDI in July were transport ($19.8 million), tobacco and cigarettes ($19.6 million), textiles ($15.7 million), oil and gas exploration ($12 million) and financial business ($9.6 million).
Published in The Express Tribune, August 18th, 2015.
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