March 21, 2024 (MLN): Pakistan’s Power Sector witnessed the highest net Foreign Direct Investment (FDI) worth $58.08 million in February 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 received a net inflow of $17.16m and $16.58m 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 $11.55m.
In the ongoing fiscal period (8MFY24), the Power sector has ranked first in terms of highest net FDI of $249.03m, compared to an inflow of $600.42m recorded in 8MFY23.
This was followed by the Oil & Gas Explorations sector which attracted a net FDI of $151.22m during the review period as against $78.05m in the previous fiscal year.
The third-highest net FDI receiver was the Financial Business sector with cumulative net inflows of $125.34m, showing a drop of 32.2% YoY as the sector observed $184.86m net foreign inflows in SPLY.
Analyzing further, the sector that experienced the highest divestment was the Communications sector, as the FDI balance for this sector stood at negative $106.52m in 8MFY24, compared to negative $162.91m in 8MFY23.
The Transport Equipment(Automobiles) sector was the second sector in line to record divestment through FDI of $5.24m, against an an inflow of $67.56m incurred in the SPLY.
Furthermore, the Mining & Quarrying sector also faced a divestment of $1.91m in 8MFY24, significantly down as in 8MFY23, the withdrawal stood at $216.65m.
It is crucial to mention that in February, FDI in the country clocked in at $131.17m.
On a cumulative basis, within 8MFY24, FDI has decreased to $820.65m as compared to Foreign investment of $990.15m reported in the corresponding period last year.
Copyright Mettis Link News
Posted on: 2024-03-21T11:17:47+05:00
