May 27, 2024 (MLN): Foreign investors ' repatriation of profit and dividends rose 250.13% YoY in 10MFY24 to $887.1 million compared to $253.36m 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 $811.64m worth of profit against the foreign direct investments (FDI) in various businesses compared to $207.93m in SPLY, marking an increase of 290.35% YoY in 10MFY24.
The outflow as payment against portfolio investment stood at $75.44m, compared with $38.61m in 10MFY23, witnessing a growth of 66.05% YoY in 10MFY24.
Meanwhile, in April 2024 alone, repatriation of profits and dividends by foreign firms stood at $56.56m.
Sector-wise:
Sectorial representation of the data shows that the major sectors that witnessed the highest repatriation include the Financial Business, Petroleum Refining, Power , Food and Transport sectors.
Among these, the Financial Business sector repatriated the highest profits of $149.58m in 10MFY24 to overseas.
The data further revealed that Profit outflows from the Petroleum Refining sector clocked in at $132.66m.
Profits outflow from the Power sector increased significantly to $120.95m in 10MFY24.
Moreover, the payments made on total foreign investment under the Food and Transport sector stood at $109.19m and $68.38m 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 U.A.E dispatched the single largest profit of $186.15m during 10MFY24, compared to $12.35m repatriated in the same period prior fiscal year.
The United Kingdom witnessed the repatriation of the second-highest profits as the country repatriated $155.99m abroad during 10MFY24, compared with $15.88m in 10MFY23.
Third in line was China which repatriated $101.32m from Pakistan, up as compared to the number during SPLY, when the country remitted $50.14m as profit income from Pakistan.
Next was United States with profit repatriation of $53.77m during the review period.
Copyright Mettis Link News
Posted on: 2024-05-27T15:51:39+05:00
