August 20, 2020 (MLN): The Electrical Machinery sector has recorded the highest Net Foreign Direct Investment of $29.4 million during July 2020, while in the corresponding month last year, the sector recorded zero inflows.
According to the latest data released by the State Bank of Pakistan (SBP) on total Foreign Investment received by sectors, the second sector with higher net flows in Pakistan is Financial Businesses. During the month, the sector fetched net $23.8 million, compared with the disinvestment of $2.3 million net in July’19.
The third-highest net FDI receiver is Communication sector with net inflows of $21.5 million in July 2020, showing a decline of 18% YoY as the sector observed $26.1 million net foreign inflows in in July 2019. Moreover, Telecommunication sector under the Communication head received the highest net $16 million worth of FDI during the month, compared to the net inflow of $25.4 million in the same month last year.
The next in line is the Oil & Gas Exploration sector, which recorded net inflows of $17 million. Compared to July 2019, the sector’s inflows increased by 12% YoY.
Furthermore, the power sector which attracted the highest net FDI in FY20, managed to fetch net $12 million worth of direct foreign investment during the month compared to the net disinvestment of $3.3 million in June 2019.
