Karachi: During the first half (July-December 2019) of the current fiscal year, foreign direct investment (FDI) in Pakistan increased by 68.3% to reach USD 1.34 billion; as compared to last year’s figures of the corresponding period which amounted to USD 796.8 million – according to news sources.
The sectors that invited a major chunk of these investments included telecommunication, power, and electronic machinery. According to the figures released by the State Bank of Pakistan (SBP), China (with USD 422.3 million direct and portfolio investment) and Norway (with USD 288.5 million investment) emerged as the top investing countries. Surprisingly, Malta also emerged among these top investing countries, with an investment of USD 111.1 million provided during the first half of the financial period.
The jump in FDI was sparked by the one-off payment made by the telecommunication companies (Telenor, Zong and Warid) for licence renewal. The FDI in the telecommunication sector rose to USD 432 million in the first six months of FY 2019-20, compared to the USD 126.3 million outflow recorded in the corresponding period of last year.
The
power sector investments went up by 41.6% (USD 289.7 million), with more than
half sum (USD 153 million) invested in the coal-based power projects.
The
foreign public investment in the government debt papers (T-bills) reached USD
452.2 million during the first six months, which is USD 1.822 billion higher
than the last year’s figures (USD 377 million).
Presently,
the central bank reserves are at a 21-month high.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
