Pakistan’s Foreign Direct Investment Soared By 45 Percent In June: SBP
Pakistan’s Foreign Direct Investment (FDI) jumped by 45 percent on the month-on-month basis to $174.8 million in the month of June, reported the State Bank of Pakistan (SBP) on Friday, as the country begins to overcome the effects of the coronavirus.
The FDI figures for the complete fiscal year were considerably high, surging to 88 percent to $2.561 billion during the 2019-20 period, from the amount of $1.362 billion in FY19, Dawn reported.
Along the same lines, the foreign private investment jumped by 140 percent to $2.279 billion in FY20, as compared to $947 million in the corresponding year. In terms of the portfolio investment, the outflow was lower than the previous year, plunging to $281 million against the $415 million.
The FDI had started to fall in March due to the coronavirus pandemic as it slowed down the economic process. During the said year, the country could only receive $278 million, while the inflows were reduced to $133 million in April and even more to $120 million in May.
On July 14, it was reported that the Pakistan Tehreek-e-Insaf (PTI) debt, excluding its liabilities that it indirectly owed to the creditors, has reached Rs 34.5 trillion by the end of May 2020, an increase of at least Rs 4.7 trillion in a single year.
According to an annual report by the State Bank of Pakistan, under the PTI government, the debt was increasing at an average pace of Rs14 billion per day.
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