KARACHI: The country has witnessed 58.2 per cent decrease in foreign direct investment (FDI) to $709.3 million in 2014-15.
According to the State Bank of Pakistan (SBP), FDI decreased by $989.3 million year-on-year in July-June, as it amounted to almost $1.7 billion in 2013-14. The huge year-on-year difference in FDI is mainly on the back of the auction of the telecom spectrum, as the one-time sale of 3G/4G licences had fetched the government $610.9 million in May 2014.
Largest contributor to the FDI during 2014-15 was the United States ($238.7 million), followed by China ($229.5 million) and United Arab Emirates ($222.4 million).
Net FDI in the last month of 2014-15 clocked up at negative $93.9 million as opposed to the net inflow of $188.6 million in the same month of the preceding fiscal year.
The largest net outflow of FDI in July-June was recorded in the cement category (-$219.5 million) followed by metal products (-$55.2 million) and pharmaceutical and over-the-counter products (-$47.2 million).
