Financial Businesses repatriate highest profits in April’20

June 3, 2020 (MLN): Foreign companies operating in Pakistan repatriated $190.4 million in profit and dividends on investments in the country during the month of April’20 which was 6.2x higher  than the profits repatriated in the previous month and 1% higher than that of repatriated in April’19.

The latest data released by SBP today shows that all major sectors of Pakistan repatriated higher profits compared with previous month. The major sectors that have contributed to the growth in the repatriation of profits include Financial Business, Communication, Oil & Gas Exploration and Transport sector, among which Financial Businesses repatriated highest profits of $62.4 million during the month mentioned above, against $5.3 million in the previous month and $65.1 million in corresponding month of last fiscal year.

The data further revealed that profits outflow from the communication sector increased to $38.5 million; against an outflow of $0.5million in the previous month and $30 million in April 2019.

The Oil & Gas Exploration sector companies repatriated $27.7 million, while they had sent $2.2 million in March’20 and $47.9 million to their respective countries in the same month of FY19.

The transport sector repatriated $26.1 million during the month under review, compared to $9.3 million last year. While in the previous month, the sector did not dispatch any profit.

Meanwhile, other sectors such as Chemicals, Food, Pharmaceuticals & OTC products, Power and Fertilizer also managed to dispatch reasonable profits compared to previous month.

Copyright Mettis Link News

Posted on: 2020-06-03T16:00:00+05:00

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