November 18, 2024 (MLN): Pakistan’s Financial Business Sector witnessed the highest net Foreign Direct Investment (FDI) worth $62.94 million in October 2024, as per the latest data released by the State Bank of Pakistan (SBP).
Pakistan’s financial sector consists of bank and non-bank financial intermediaries.
The banking intermediaries include commercial banks, islamic banks, specialized banks and micro-finance banks, while non-bank intermediaries include development finance institutions, non-bank financial institutions, and insurance companies.
The second highest rank was held by the Electrical Machinery sector as it experienced a net inflow of $15.09m from foreign investors in the review month.
On the other hand, the sector that witnessed the biggest net outflow was the Communications sector as foreign investors withdrew an amount of $13.52m.
In the ongoing fiscal period (4MFY25), the Power sector has ranked first in terms of the highest net FDI of $414.49m, compared to an inflow of $223.1m recorded in 4MFY24.
This was followed by the Financial Business sector which attracted a net FDI of $189.62m during the review period as against $193.24m in the previous fiscal year.
The third-highest net FDI receiver was Oil & Gas Explorations sector with cumulative net inflows of $103.8m, showing a rise of 21.44% YoY as the sector observed $85.48m net foreign inflows in SPLY.
Analyzing further, the sector that experienced the highest divestment was the Mining & Quarrying sector, as the FDI balance for this sector stood at negative $38.39m in 4MFY25, compared to negative $17.87m in 4MFY24.
The Transport Equipment(Automobiles) sector was the second sector in line to record divestment through FDI of $23.66m, against an outflow of $16.67m incurred in the SPLY.
Furthermore, the Pharmaceuticals & OTC Products sector also faced a divestment of $7.94m in 4MFY25, significantly down as in 4MFY24, the FDI stood at $26.72m.
It is crucial to mention that in October, FDI in the country clocked in at $133.23m.
On a cumulative basis, within 4MFY25, FDI has increased to $904.34m as compared to Foreign investment of $683.55m reported in the corresponding period last year.
Copyright Mettis Link News
Posted on: 2024-11-18T16:36:22+05:00
