Karachi: The State Bank of Pakistan (SBP) on Wednesday (October 20) announced a 16% increase in Foreign Direct Investment (FDI) in the month of September 2021, news sources reported.
The USD 236 million FDI, sourced mostly from the information technology (IT) industry, power, oil and gas exploration, and banking sectors, has registered a marked increase when compared with the corresponding period of the last year. However, FDI from July to September was 4% lower at USD 439.1 million, compared to USD 457.6 million recorded in the same period last year.
Similarly, data published reveals that a significant portion of FDI came from investors in the United States, and totalled USD 100.9 million in FY-22, up from USD 19.7 million recorded in the same time last year. China was the second-largest investor with USD 76.9 million, a 50% decrease from the previous year.
Other major investors include; Netherlands with an investment of USD 60 million, the United Arab Emirates (UAE) with USD 49.7 million, the United Kingdom (UK) with USD 30.3 million, Hong Kong with an investment volume of USD 34.8 million. At the current pace, according to experts, the FDI in the current fiscal year is expected to reach USD 1.5 to 2 billion.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
