Repatriation of profit plunges by 82.7% YoY in 10MFY23

MG News | May 26, 2023 at 01:04 PM GMT+05:00

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May 26, 2023 (MLN): Repatriation of profit and dividends by foreign investors plummeted by around 82.7% YoY in 10MFY23 to $253.4 million compared to $1.46 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 $208mn worth of profit against the foreign direct investments (FDI) in various businesses compared to $1.33bn in SPLY, marking a plunge of around 84.4% YoY.

While the outflow as payment against portfolio investment stood at $45.4mn, compared with $130.7mn in the same period a year earlier, witnessing a drop of 66.26% YoY.

To note, the repatriation of profit on account of FDI is lower than overall FDI which amounted to $1.17bn during the ten months of this fiscal year.

Similarly, in the month of March 2023 alone, repatriation of profits and dividends on investment by foreign firms stood at $7.7mn.

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