September 18, 2019 (MLN): The major industrial sectors in Pakistan have witnessed a decline in Foreign Direct Investment (FDI) during Jul -Aug FY20, according to the latest data released by State Bank of Pakistan (SBP).
Among the country’s major economic sectors, Oil and Gas Exploration sector has received the highest FDI worth $21.3 million during Jul- Aug FY20, which is down by around 52% YoY when it compared with the figure of $44.5 million received in the corresponding period last year.
Transport Equipment (Automobiles) sector came in second as net inflows into the sector stood at $16.4 million against $18.5 million reported during Jul-Aug FY19, marking a decline of 12% YoY.
The next in line is Textile sector, in which net inflows soared by 90% to $15.3 million during 2MFY20 versus $8.1 million in same period of FY19.
On the other hand, the Construction which received the highest inflows during Jul-Aug FY19, has witnessed 99% fall in FDI. Similarly, the Power sector, which remained the single largest recipient of the CPEC-related FDI over the last few years, witnessed an outflow of $4.3 million during the period under review.
The food sector also witnessed an outflow of $12.6 million against inflows of $20.7 recorded in the same period last year, indicating that the starting two months of FY20 failed to show improved picture of Direct Foreign investments in Pakistan.
