September 18, 2020 (MLN): The financial business has received the highest net FDI worth $61.5 million in August’20. During Jul-Aug FY21, it fetched a net $85.4 million, showing a six-fold increase when compared to the net inflows of $14 million in the corresponding period of FY20.
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 Oil and Gas Exploration. During the month of August’20, the sector received net inflows of $17.3 million, showing an increase of 2% compared with the net FDI of $17.0 million in July’20.
The sector showed substantial growth of 37% YoY during Jul-Aug FY21 as its net FDI was recorded at $34.3 million against the net inflows of $25.1 million in the aforementioned period.
The third-highest net FDI receiver is Communications with net inflows of $15.6 million in August’20. The telecommunication sector under the Communication head received the highest net $13.1 million worth of FDI during the month. However, the Communication sector witnessed a decline of 17% YoY to stand at $37.1 million during Jul-Aug FY21 when compared to the same period of FY20.
The next in line is the Electrical machinery sector, which recorded a net FDI of $7.1 million in August’20. The sector experienced a more than two-fold increase in net FDI to reach $36.5 million during Jul-Aug FY21 versus $15 million in the same period of FY20.
On the other hand, the Power sector which received net inflows of $12.2 million during July’20, has witnessed net disinvestment of $6.7 million in August’20.
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