KARACHI: The State Bank of Pakistan (SBP) report stated that foreign investment has dropped by 77 percent in fiscal year 2023 as compared to FY 2022.
According to SBP, the fiscal year 2023 amassed US$ 427.1 million in overall foreign funds which is 77 percent lower than the previous fiscal year and foreign direct investment (FDI) also decreased by 25 percent.
The State Bank report stated that the private sector of Pakistan received US$ 1.43 billion of foreign investments with a 7 percent decline, followed by US$ 1.01 billion of investments in the public sector.
Earlier, the total liquid foreign reserves of Pakistan stood at US$13,534.1 million while reserves held by the central bank reached $8,186.1 million.
The State Bank of Pakistan, in a statement issued here on Thursday, informed that SBP’s reserves decreased by US$ 541 million to US$ 8,186.1 million mainly due to external debt repayments during the week ending on July 21, 2023.
Meanwhile, net foreign reserves held by commercial banks stood at US$ 5,348 million, it added. In the week ending on July 14, 2023, total liquid foreign reserves held by the country was US$14,065.3 million.
Among them, foreign reserves held by the central bank were US$8,727.2 million while net foreign reserves held by commercial banks were US$5,338.1 million.
