Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

Pakistan’s Power sector attracts highest net FDI of $168m in March

Pakistan's power sector circular debt stable since October 2023: IMF report
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

April 22, 2024 (MLN): Pakistan’s Power Sector witnessed the highest net Foreign Direct Investment (FDI) worth $167.47 million in March 2024, as per the latest data released by the State Bank of Pakistan (SBP).

The second and third highest rank was held by the Financial Business and Oil & Gas Explorations sectors as they experienced a net inflow of $25.08m and $19.95m respectively 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 $10.53m.

In the ongoing fiscal period (9MFY24), the Power sector has ranked first in terms of highest net FDI of $443.39m, compared to an inflow of $710.99m recorded in 9MFY23.

This was followed by the Oil & Gas Explorations sector which attracted a net FDI of $171.06m during the review period as against $100.19m in the previous fiscal year.

The third-highest net FDI receiver was Financial Business sector with cumulative net inflows of $151.34m, showing a drop of 32.89% YoY as the sector observed $225.52m 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 $116.7m in 9MFY24, compared to negative $169.47m in 9MFY23.

The Transport Equipment(Automobiles) sector was the second sector in line to record divestment through FDI of $4.48m, against an an outflow of $11.66m incurred in the SPLY.

Furthermore, the Mining & Quarrying sector also faced a divestment of $1.87m in 9MFY24, significantly down as in 9MFY23, the withdrawal stood at $219.32m.

It is crucial to mention that in March, FDI in the country clocked in at $258.04m.

On a cumulative basis, within 9MFY24, FDI has decreased to $1.1bn as compared to Foreign investment of $1.22bn reported in the corresponding period last year.

Copyright Mettis Link News

Posted on: 2024-04-22T17:00:12+05:00