KARACHI: The Foreign Direct Investment (FDI) in the country increased by 7 percent during the first four months of the current fiscal year (4MFY24).
According to data released by the State Bank of Pakistan (SBP), net foreign direct investment during 1QFY24 stood at $525 million compared to $490 million reported in the same period of FY23.
Portfolio investment registered inflows of $11 million in 4MFY24 compared to outflows of $15 million in 4MFY23. Foreign public investment stood at 3.2 million in 4MFY24 compared to outflows of $18 million in 4MFY23. The total foreign investment stood at $539 million in 4MFY24 compared to $457 million in 4MFY23, an increase of 18 percent.
In October 2023, the country attracted foreign direct investment of $122 million, down 13 percent over investment of $140 million in October 2022 and down 29 percent compared to investment of $173 million in September 2023.
The total foreign investment in October 2023 stood at $127 million, down 8 percent on a year-on-year basis.
In 4MFY24, the highest investment of $158 million was from China, followed by $107 million by Hong Kong, and $56 million by the United Kingdom (UK).
Some of the other countries included Netherlands with $56 million, the United States (US) $35 million, Switzerland $33 million, Singapore $29 million and the United Arab Emirates (UAE) with $18 million.
