September 27, 2018 (MLN): Repatriation of profits earned on foreign direct investments brought into the country have fallen to $94.6 million during the second month of the current fiscal year, as investors send back home around $30 million less than the amount sent during prior month before, i.e. July 2018.
According to provisional figures released by the State Bank of Pakistan today, as compared to last year, i.e. August 2017, profit repatriation has plummeted by $63.9 million as investors had sent back home $158.1 million from profits on Foreign Direct Investments (FDI).
Repatriation from the Oil and Gas Exploration sector has been recorded as the largest source of repatriations on FDI this month, while during the previous month, Beverage sector had accounted for the largest repatriations.
The largest amount of repatriations during the previous month, were sent back to US, followed by UK, and Japan.
Apart from this, repatriation of dividends on foreign portfolio investments (FPI) brought into the country fell by almost 28% over the month before.
During August 2018, investors repatriated $9.1 million out of the total dividends earned from FPI, around $4 million less than the $12.6 million sent abroad in July. Repatriations on FPI have been falling consistently since the last five months starting April 2018.
Copyright Mettis Link News