May 17, 2024 (MLN): China emerged as the largest investor in Pakistan in April 2024, with a net direct investment of $177.37 million, followed by the U.A.E and Canada which invested $51.93m and $51.89m respectively, according to the data issued by the State Bank of Pakistan (SBP).
During Jul-Apr FY24, the CPEC partner remained the largest investor, followed by Hongkong and the United Kingdom with net FDI of $439.29m, $297.92m, and $219.07m respectively.
It is pertinent to note that the total FDI in 10MFY24 stood at $1.46bn, up 8.08% YoY compared to FDI of $1.35bn in 10MFY23.
China held the majority proportion (30.13%) of direct investments in the country during 10MFY24, however, investment from the respective country has declined substantially by 27.23% YoY when compared with the figure of $603.67m in 10MFY23.
Hong Kong’s contribution in net FDI stood at $297.92m (20.44%) in the 10MFY24, up by 44.29% YoY compared to $206.47m in SPLY.
The third major investor during 10MFY24, United Kingdom’s share was 15.03% with a direct investment of $219.07m, declining by 2.98% YoY.
Other major important investors were the United States, U.A.E and Singapore with a net FDI of $116.05m, $79.67m, and $65.59m respectively during 10MFY24.
The Foreign Portfolio Investment (FPI), which represents an investment in the equity market (both direct and indirect) during April stood at negative $963.55m.
On a cumulative basis, FPI showed a divestment of $798.59m during 10MFY24, against a divestment of $1.01bn in the SPLY.
The United States emerged as the biggest portfolio investor during the month, as it invested $8.38m during the month and $52.82m during 10MFY24.
The total foreign divestment in the review month clocked in at $604.71m.
On a cumulative basis, within 10MFY24, total foreign investment was reported at $659.26m as compared to foreign investment of $341.39m incurred in the corresponding period last year.
Copyright Mettis Link News
Posted on: 2024-05-17T16:54:54+05:00
