Overseas investors repatriate $135.6m in August

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By MG News | September 26, 2024 at 11:01 AM GMT+05:00

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September 26, 2024 (MLN): Foreign investors ' repatriation of profit and dividends rose 188.15% in August to $135.58 million compared to $47.05m worth of repatriation in the same period last year, the latest data issued by the central bank revealed.

The data further revealed that during the period, foreign companies repatriated $134.22m worth of profit against the foreign direct investments (FDI) in various businesses compared to $42.36m in SPLY, marking an increase of around 216.86%.

The outflow as payment against portfolio investment stood at $1.36m, compared with $2.16m in August 2023, witnessing a drop of 37.02%.

Meanwhile, in 2MFY25 alone, repatriation of profits and dividends by foreign firms stood at $274.7m, surging by 458.26%.

Sector-wise:

Sectorial representation of the data shows that the major sectors that witnessed the highest repatriation include the Financial Business, Food, Tobacco & Cigarettes, Transport and Chemical sectors.

Among these, the Financial Business sector repatriated the highest profits of $43.51m in August to overseas.

The data further revealed that Profit outflows from the Food sector clocked in at $28.26m.

Profits outflow from the Tobacco & Cigarettes was recorded at $20.95.

The payments made on total foreign investment under the Transport and Chemical sector stood at $14.72m and $5.81m respectively during the review period.

Country-wise:

A country-wise break up of data on repatriation of profit released by SBP revealed that firms and individual investors in the United Kingdom dispatched the single largest profit of $63.3m in August, compared to $1m repatriated in the same period prior fiscal year.

Kuwait witnessed the repatriation of the second-highest profits as the country dragged out $18.43m abroad.

Third in line was Switzerland which repatriated $12.47m from Pakistan.

Next in line was U.A.E with a profit repatriation of $12.39m during the review period.

Copyright Mettis Link News

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