UK remitts $165.8 mln as profits/dividend from Pakistan

December 26, 2019 (MLN): United Kingdom’s profits repatriation during Jul-Nov 2019 surged by 15% YoY, as it repatriated $165.8 worth profits from Pakistan to maintain its position as a highest profits repatriating country.

However, it is worthwhile to mention that during the same period, UK appeared as third on Foriegn Direct Invetment (FDI) chart.

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 $119.4 million abroad during Jul-Nov FY20, compared with $113 million in the corresponding period previous year.

Third in line is Hong Kong which repatriated $89.5 million from Pakistan during the period under review which was 5.3 times higher when compared with $16.7 million in the corresponding period of the last fiscal year.

Next followed by Switzerland with profit repatriation of $55.8 million which was almost the same when compared with last year figures.

Furthermore, Chinese firms repatriated $45.7 million abroad during 5MFY20, compared with $38.5 million in previous year, depicting an escalation of 19% YoY.

On the other hand, Japan, Netherland and UAE witnessed a decline in profits repatriation by 58%, 13% and 67% YoY as they remitted $22.7 million, $ 4.5 million and $67.8 million respectively from Pakistan.

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