November 18, 2019 (MLN): Pakistan’s major industrial sectors have witnessed a decline in foreign investments (FDI) during Jul-Oct FY20, according to the latest data released by State bank of Pakistan.
Among the country’s major economic sectors, the power sector has received the highest net FDI worth $30.3 million in October 2019. During Jul-Oct FY20, it received $31.2 million whereas it showed the outflow of $407 in the corresponding period of FY19.
Communications sector came in second as net inflows into the sector stood at $22.9 million in October 2019. The sector showed remarkable growth specifically in Telecommunications during Jul-Oct FY20 as its net FDI was recorded at $278.1 million against the net outflows of $70.3 in the aforementioned period.
The third-highest net FDI receiver is Financial Business with net inflows of $14.2 in October 2019 while it witnessed a decline of 23.38% YoY to reach at $39.1 million during Jul-Oct FY 20 when compared to the same period of FY19.
The next in line is the Transport Equipment (Automobiles) sector, which recorded net FDI of $9 million in October 2019. However, the sector net inflows declined by 12.22% YoY to $33.3 million during Jul-Oct FY20 versus $37.9 million in the same period of FY19.
During Jul-Oct FY20, Electrical machinery sector showed an improved picture in net FDI as it received net inflows of $72.4, which were 13 times higher than net inflows of the said period of FY19.
On the other hand, the Oil and Gas Exploration sector which received net inflows of $120.4 during Jul-Oct FY19, has witnessed a 66% fall in FDI during Jul-Oct FY20.
