Foreign Direct Investment rises 68pc in six months

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KARACHI: Foreign Direct Investment (FDI) in Pakistan rose 68.3pc to $1.34 billion in the first half of the fiscal year 2019-20 (July-Dec FY20), according to data released by the State Bank of Pakistan (SBP) on Thursday.

During the same six-month period a year ago, FDI in the country stood at $796.8 million.

On a year-on-year basis, FDI increased to $487 million in December 2019, against $319.5 million recorded during the same month in 2019.

The overall foreign investment in Pakistan stood at $1.8 billion during the six-month period, compared to $377 million during the same period last year.

The foreign portfolio investment from July to December amounted to $452 million.

Country-wide data released by the central bank shows that China remained the largest investor, with net FDI of $422 million during the six-month period, compared with net investment of $217 million during the same period last year.

The second-largest investor was Norway, with a net FDI of $289 million, compared with $9 million during the same period the year before.

The highest amount of FDI was in telecommunications, at $420 million, followed by power at $290 million.

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