FDI falls to $59mn in July

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MG News | August 25, 2022 at 11:45 AM GMT+05:00

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August 25, 2022 (MLN): The inflow of foreign direct investment (FDI) into Pakistan during July stood at $59 million against the inflow of $103.8mn recorded in the same month a year ago, down by 39% YoY, the monthly data released by the central bank showed on Thursday.

On monthly basis, FDI fell by 76% from $260.2mn in June’22.

Data further revealed that the Power sector fetched the highest net FDI of $30.6mn during the month which was 16% higher compared to the same month last year.

Meanwhile, the financial sector attracted $27.7mn in FDI from foreign investors in July, compared to $36mn a year ago, showing a decline of 23%. Direct investment in the Communication sector dropped by 29% to $10.6mn from $14.9mn in July’21.

The Oil & Gas Exploration sector attracted $2.7mn as direct foreign investment in July, which was 86% lower when compared to $19mn in same month last year.

Country-wise, investment flows from the UAE jumped to $12.6mn from $3mn a year earlier, and investment from Switzerland rose slightly from $11mn to $11.5mn. Meanwhile, investors belonging to Germany and China invested $6.5mn and $4.6mn, up by 23% and 34% YoY.

However, FDI inflows from the Netherlands fell to $6.3mn from $7.3mn in July’21.

During the month under review, the foreign private investment into the country amounted to $62.6mn, out of which, $58.9bn was attributed to direct investments, while $3.7mn was attributed to portfolio investments.

Within the direct investments, there was an inflow of $114.2mn and an outflow of $55.3mn during the month under review.

Under the foreign public investment, $17.7mn worth of disinvestment was recorded in debt securities during July’22, signifying a massive 102% YoY decline against the net inflows of $1bn in July’21.

All in all, the country witnessed foreign investments of $44.9mn during July’22, showing a decline of 96% YoY and 78% MoM.

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