The Foreign Direct Investment (FDI) in Pakistan increased by 87.94% during August 2022 as compared to the inflows in July 2022, WealthPK reports.

According to the Economic Update and Outlook for September 2022, the FDI inflows were recorded at $110.7 million in August 2022 against $58.9 million in July 2022.

During the first two months of the current fiscal, the inflows, however, witnessed a decline of 26.1% as compared to the corresponding period of the previous financial year. The FDI reached $169.5 million during July and August 2022 against $229.5 million during the months of July and August of 2021.

The report said that FDI received from China stood at $32.7 million, accounting for 21.5% of the total inflow, followed by the UAE with $ 25.5 million, which was19.6% of the total inflow, Switzerland with $23.3 million that accounted for11.0% and the Netherland with $16.8 million, which was 10.6% of the total.

The report said that the power sector of Pakistan attracted the highest FDI of $80.4 million, followed by financial business with $50.7 million and the communication sector with $25.0 million.

Meanwhile, the Foreign Private Portfolio Investment has registered a net outflow of $6.7 million during the first two months of the current fiscal.

Foreign Public Portfolio Investment recorded a net outflow of $18.4 million while the total foreign portfolio investment recorded an outflow of $25.1 million during the first two months of the current fiscal against an inflow of $961.6 million in the corresponding period of the previous financial year.

The total foreign investment during the first two months of the current fiscal reached $144.4 million against $1191.1 in the corresponding period of the previous financial year, said the report available with WealthPK.

Credit : Independent News Pakistan-WealthPk