June, 21 2024 (MLN): Pakistan’s Power Sector witnessed the highest net Foreign Direct Investment (FDI) worth $104.92 million in May 2024, as per the latest data released by the State Bank of Pakistan (SBP).

The second and third highest rank was held by the Oil & Gas Explorations and Mining & Quarrying sector as they experienced a net inflow of $84.72m and $19.06m respectively from foreign investors in the review month.

On the other hand, the sector that witnessed the biggest net outflow was the Others sector as foreign investors withdrew an amount of $4.09m.

In the ongoing fiscal period (11MFY24), the Power sector has ranked first in terms of highest net FDI of $742.47m, compared to an inflow of $832.74m recorded in 11MFY23.

This was followed by the Oil & Gas Explorations sector which attracted a net FDI of $277.26m during the review period as against $127.62m in the previous fiscal year.

The third-highest net FDI receiver was Financial Business sector with cumulative net inflows of $187.55m, showing a drop of 27.86% YoY as the sector observed $260m net foreign inflows in SPLY.

Analyzing further, the sector that experienced the highest divestment was Communications sector, as the FDI balance for this sector stood at negative $115.86m in 11MFY24, compared to negative $165.51m in 11MFY23.

The Transport Equipment(Automobiles) sector was the second sector in line to record divestment through FDI of $7.48m, against an an outflow of $12.21m incurred in the SPLY.

Furthermore, the Leather & Leather Products sector also faced a divestment of $1.59m in 11MFY24, significantly down as in 11MFY23, the withdrawal stood at $1.6m.

It is crucial to mention that in May, FDI in the country clocked in at $270.93m.

On a cumulative basis, within 11MFY24, FDI has increased to $1.73bn as compared to Foreign investment of $1.5bn reported in the corresponding period last year.

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Posted on: 2024-06-21T18:26:56+05:00