Pakistan's FDI Stood At $939.7 Million In Four Months
Faizan Hashmi Published November 16, 2017 | 09:05 PM
State Bank of Pakistan (SBP) recorded an increase of 74.4 percent in Federal Direct Investment (FDI) during first quarter of July-October 2017-18 as compared to last year
ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Nov, 2017 ) :State Bank of Pakistan (SBP) recorded an increase of 74.4 percent in Federal Direct Investment (FDI) during first quarter of July-October 2017-18 as compared to last year.
During July-October 2018 period, the net FDI inflow into the country was $939.7 million against $538.7 million during corresponding period July-Oct 2017, says a press release. This increase in the FDI is supported by Chinese ($631.7 million), and Malaysian ($107 million) investment.
These two countries contributed to around 78.6 percent in the total net FDI inflow during this quarter (July-Oct). The other investments are from France ($38 million), UAE ($24 million) and United States of America ($26.6 million).
Chinese FDI increased to 213 percent during this fiscal year and touched $631.7 million in first quarter whereas during the same period of last fiscal year it was $201.8 million. China is investing in several projects under CPEC and the majority of the FDI are focused on power sector followed by construction.
Sector-wise analysis depicts that power sector has attracted $422 million (44.9%), while construction sector also attracted $177 million (18.8%) in the first four month of current fiscal year followed by financial services ($76.3 million), communications ($69.4 million), trade ($53.2 million) and oil and gas sector ($57.9 million).
Experts are seeing good prospects and projecting upward trend of FDI in financial year 2018 as economy appears to be expanding and work on certain electricity generation and infrastructure projects under CPEC remain on track in future as well.
Further, economic managers of the country are also of the view that improvement in FDI will play a pivotal role in providing support to balance of payments, which is heavily under pressure due to growing trade deficit.
Related Topics
Recent Stories
SIU arrests robbery gang targeting bank customers
Asia Cricket Week from April 28
PSA World C'ships in May
Food Safety Authority raids hospitals' canteen across KP
US Fed's favored inflation measure accelerates in March
Kenya flood death toll since March climbs to 70: govt
Rafiq-ul-Hujajj Committee to organize 2nd training session for pilgrims in Abbot ..
Defence Minister leads Pakistan's delegation to Kazakhstan SCO moot
PRCS Chairman, Moroccan envoy discuss humanitarian relations
50pc cut in subsidy of BRT service likely: CM’s aide
Russia striking Ukraine railways to 'paralyse' army cargo: Ukraine source
Cop, suspected outlaw injured in police encounter
More Stories From Pakistan
-
SIU arrests robbery gang targeting bank customers
57 minutes ago -
PSA World C'ships in May
57 minutes ago -
Food Safety Authority raids hospitals' canteen across KP
57 minutes ago -
Rafiq-ul-Hujajj Committee to organize 2nd training session for pilgrims in Abbottabad
1 hour ago -
Defence Minister leads Pakistan's delegation to Kazakhstan SCO moot
1 hour ago -
PRCS Chairman, Moroccan envoy discuss humanitarian relations
1 hour ago
-
Cop, suspected outlaw injured in police encounter
1 hour ago -
IPRI, ILA Italy ink MoU on cooperation in international law development
1 hour ago -
Opponents must compete with Punjab CM on basis of performance: Azma Bukhari
56 minutes ago -
Punjab govt providing all possible resources to talented youths: minister
56 minutes ago -
Ashrafi re-elected member of Muslim World League's Supreme Council
56 minutes ago -
4-day book fair opens
1 hour ago