Profit repatrition during February falls by 75 percent, MoM

March 30, 2020 (MLN): Profits and dividends repatriated by Pakistani sectors during February 2020 stood at $27.3 million, showing a decrease of 75% as compared to the previous month and 64% as compared to the same period of last year.  

During the period Jul-Feb FY2020, the profit repatriation declined by merely 2.1% to $973.9 million over 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 $20 million, owing to a rise in oil prices in the international markets. However, this amount was 68% lower against the profits repatriated in the previous month and 44% against profits repatriated in the same period of last year.

The profits repatriated by the remaining sectors were meager against that of the leading sector. The Power Sector hardly took the second lead, as it managed to repatriate only 3.4 million, which is surprisingly elevenfold greater as compared to the previous month and 44% as compared to the same period of last year.  

Copyright Mettis Link News

Posted on: 2020-03-30T18:32:00+05:00

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