December 28, 2022 (MLN): Repatriation of profit and dividends by foreign investors went down by 83.41% YoY in the first five months of this fiscal year (FY23), the central bank data showed on Tuesday.
The SBP data shows that multinational companies operating in Pakistan repatriated $128.7 million in profit and dividends on investments in the country during the first five months of the ongoing fiscal year as compared to the profits of $776mn repatriated in the corresponding period last year.
The data further revealed that during the period, foreign companies repatriated $102mn worth of profit against the foreign direct investments (FDI) in various businesses compared to $693.8mn in SPLY.
While the outflow as payment against portfolio investment stood at $26.2mn, compared with $82.1mn in the same period a year earlier, recorded a decrease of 68.09% YoY.
Country-wise:
A country-wise break up of data on repatriation of profit released by SBP revealed that firms and individual investors belonging to the USA dispatched the profit of $21.1mn during the period compared to $125.8mn in the same period prior fiscal year.
The United States recorded the repatriation profits of $21.2mn abroad during the period under review, compared with $125.8mn in the previous year.
Third in line is China which repatriated $17mn from Pakistan during 5MFY23, as compared to $61.8mn in the same period last year.
Next followed by the UAE with profit repatriation of $10mn which decreased by 68.35% YoY as compared to $31.6mn recorded in 5MFY22.
