Karachi: The country’s foreign direct investment were seen to rise by 92% in March despite the going coronavirus pandemic; as long-term foreign investors continued making investments in power, oil and gas exploration, as well as the communications sector, a news source reported.
The FDI in March stood at USD 278.7 million against USD 145.4 million of the same month in last year. The investment in the first nine months of the current fiscal year (July to March) also rose by 137%. Foreign investment levels during the previous year amounted to USD 905 million against USD 2.14 billion during the current period.
China was the largest investor with an investment of USD 202
million, while the power sector received the highest investment. Beijing has
continued to invest in infrastructure and power projects under the
China-Pakistan Economic Corridor (CPEC) initiative. Other major investor
countries included Malta, Netherlands, and the United Kingdom, which invested
USD 18 million, USD 10.5 million, and USD 9.5 million, respectively.
