Repatriation of profit plunges by 80.36% YoY in 8MFY23
PKR continues losing spree
23:50
March 27, 2023
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March 27, 2023 (MLN): Repatriation of profit and dividends by foreign investors plummeted by 80.36% YoY in 8MFY23 to $225 million compared to $1.14 billion in the same period last year, the latest data issued by the central bank revealed.
The data further revealed that during the period, foreign companies repatriated $188.1mn worth of profit against the foreign direct investments (FDI) in various businesses compared to $1bn in SPLY, marking a plunge of around 82% YoY.
While the outflow as payment against portfolio investment stood at $36.9mn, compared with $108.6mn in the same period a year earlier, witnessing a drop of 66% YoY.
To note, the repatriation of profit on account of FDI is lower than overall FDI which amounted to $784mn during the first eight months of this fiscal year.
Similarly, in the month of February 2023 alone, repatriation of profits and dividends on investment by foreign firms dropped by 96.3% YoY to $4.9mn compared to $132.9mn in February 2022.
