Pakistan’s FDI surges 78.1pc in July-Nov 2019-20

KARACHI: Pakistan’s Foreign Direct Investment surged to $850 million in July-November (2019-20) compared to the investment of $477.3 million recorded during same period last year, showing a growth of 78.1 percent.

On year-on-year basis however, the FDI decreased to $200.1 million in November 2019 against $285.4 million recorded during the same month of previous year, according to the data released by State Bank of Pakistan (SBP) on Tuesday.

In total, the foreign investment in the country surged by 1,267 percent to $2.006 billion in July-November this year as compared to the investment of $146.7 million during same period of last year.

The country-wise data shows that net foreign investment from China posted a growth as it rose to $141 million during the period under review compared to the investment worth of $90 million recorded during same period of last year.

The foreign investment from Norway recorded a big increase as it rose to $334 million in July-November 2019-20 compared to investment of negative $74.2 million in same period of last year.

Investment from United States also increased to $34.9 million in first five months of current fiscal year against investment worth of negative $95.2 million in same period of last year while foreign investment from United Kingdom also increased from $67.7 million to $100.8 million in five months of the year 2019-20.

The FDI from United Arab Emirates declined to $9.9 million in Jul-November (2019-20) from $42 million last year, whereas investment from Turkey recorded a slight decline as it went down from $23 million to $20 million in corresponding period of current fiscal year.

From Switzerland, the FDI increased to $13.5 million as compared to the investment of $3 million during the same period of the preceding year, whereas investment from Malaysia also increased to $35.5 million in the period under review compared to the investment of $12.7 million last year.

Investment from Saudi Arabia decreased from $7.2 million last year to $4.4 million during July-November 2019-20.

Netherlands invested $23.3 million during the corresponding period of current year as compared to investment of $14.7 million during the same period last year.

Investment from Hongkong decreased to $32 million in July-November (2019-20) against the investment of $44.3 million made during same period of last year, whereas Germany’s investment rose to $24.3 million this year from $19 million last year.

About The Author