September 7, 2020 (MLN): United Kingdom’s profits repatriation during the month of July’20 surged 34 times higher compared to July 2019, as it repatriated $179.7 million worth profits from Pakistan to maintain its position as a highest profits repatriating country.
A country-wise break up of data on repatriation of profit/dividend released by SBP, revealed that United States witnessed the second highest profits repatriation as the country repatriated $53.3 million abroad during the month under review, compared with $37.7 million in the corresponding month previous year.
Third in line is Malta which repatriated $47.1 million from Pakistan during the month, while in the corresponding month last year, the country did not remit any profits or dividend income from Pakistan.
Next followed by Switzerland with profit repatriation of $17.9 million which was 60% higher when compared with last year figures.
Furthermore, Chinese firms repatriated $10.4 million abroad during the month, compared with $6.2 million in July’19, depicting an escalation of 69% YoY.
On the other hand, Hongkong, Kuwait and Netherland witnessed a decline in profits repatriation by 96%, 70% and 59% YoY as they remitted $1.8 million, $2.8 million and $1.9million respectively from Pakistan.
