Karachi: The State Bank of Pakistan (SBP) recently notified a 78.1% increase in the country’s foreign direct investment (FDI) levels recorded during the last five months of FY2019-20, according to news sources. The central bank further stated that a number of recently undertaken economic reforms – including the government’s ease-of-doing-business initiative – had aided in strengthening investor confidence.
As per the data released by the SBP, the country had received USD 477.3 million in foreign direct investment during the same period of the previous fiscal year. The analysts are hopeful that foreign investment will grow after the implementation of reforms backed by the International Monetary Fund (IMF) and will lead to improved national economy.
The World Bank’s ranking of Pakistan in the ‘Ease-of-Doing-Business’ has also moved up from 136th position of the last year to 108th this year. Similarly, the surge in Pakistan’s credit rating, recently announced by Moody’s Investors Services, would also contribute towards improvement in the national economy.
The central bank stated that the tenure of international investments was increasing as investor confidence grew. It also hinted that the taxation simplification for investment in government securities as approved recently by the Economic Coordination Committee would also encourage investments in longer-dated maturities.
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