Foreign direct investment up by 307.6% to $75m in July

KARACHI: The foreign direct investment (FDI) into the country has surged by 307.6 per cent to $75 million in July 2015.

According to the State Bank of Pakistan (SBP), FDI increased by $56.6 million year-on-year in July, as it amounted to $18.4 million in the same month of 2014-15.

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The huge year-on-year difference in FDI in July is mainly on the back of the FDI in the power sector, which clocked up at $33.1 million against the corresponding figure of $3.3 million only.

Largest contributor to the FDI during July was China ($53.5 million), followed by Switzerland ($21.6 million) and United Arab Emirates ($15.3 million).

Pakistan received foreign direct investment (FDI) of $709.3 million in 2014-15, which is 58.2% less than the FDI received in the preceding fiscal year. The huge year-on-year difference in FDI last year was a consequence of the high-base effect: the one-time sale of 3G/4G licences had fetched the government $610.9 million in May 2014.