Profit repatriation by Pakistani sectors declines by 34% MoM in January

February 26, 2020 (MLN): Profits and dividends repatriated by Pakistani sectors during January 2020 stood at $110.3 million, showing a decrease of 34% as compared to the previous month and 30% as compared to the same period of last year.  

According to the latest data released by the State Bank of Pakistan (SBP), the Oil and Gas exploration sector made the highest repatriation of profits during the period at $62.5 million, owing to a rise in oil prices in the international markets. This translated into a fivefold increase against the profits repatriated in the previous month and 25% against profits repatriated in the same period of last year.

The Petroleum Refining sector took the second spot, as its overall repatriation amounted to $23.5 million, depicting a humongous increase from the figures reported in the previous month as well as the same month last year.

This was followed by the Chemical Sector, which repatriated around $13.1 million during the month, i.e. almost 1.27x higher than the previous month and 70% lower than the same period of last year.

During the period Jul-Jan FY2020, the profit repatriation increased by merely 3% to $946.6 million over the same period of last year. Financial Business repatriated the largest profits during this time, at $136.8 million, followed by Oil and Gas Exploration at $129.2 million and the Food sector at $84.3 million.

Copyright Mettis Link News

Posted on: 2020-02-26T17:55:00+05:00

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