Food Sector repatriates highest profits in September

October 28, 2020 (MLN): Foreign companies operating in Pakistan repatriated $169.2 million in profit and dividends on investments in the country during the month of September’20 which was 3.18x higher  than the profits repatriated in the previous month and 26% higher than that of repatriated in September’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 Food, Communication, Chemical and Transport sector, among which Food sector repatriated highest profits of $53.2 million during the month mentioned above, against zero profits in the previous month and $3.8 million in corresponding month of last fiscal year.

The data further revealed that profits outflow from the communication sector increased to $53 million; against an outflow of $4.5 million in the previous month and $0.1 million in Sept’19.

The Chemical sector companies repatriated $30.2 million, while they did not dispatch any profits in Aug’20 and $23.1 million to their respective countries in the same month of FY20.

The transport sector repatriated $20.5 million during the month under review, compared to $5.7 million last year. While in the previous month, the sector dispatched $2.6 million worth of profits.

Meanwhile, other sectors such as Beverages, Pharmaceuticals & OTC products, Power and Oil & Gas Exploration managed to dispatch reasonable profits worth $3 million, $3.9 million, $2.2 million and $2.8 million respectively during the month under review.

Copyright Mettis Link News