Foreign Direct Investment plunges 51pc YoY in Sept

KARACHI: Foreign direct investment (FDI) was recorded at $189 million in September 2020, compared to $384 million in September 2019, showing a decrease of 51pc year-on-year.

During the first quarter of fiscal year 2021, FDI declined by 24pc YoY to $416 million, compared to $546 million in the same period of last year.

September’s FDI of $189 million is the highest recorded monthly FDI since March 2020, when FDI was recorded at $279 million. However, this is the first month FDI has recorded a yearly decline since May 2020.

China remained the biggest investor, with a net FDI of $104 million during the first quarter of FY21, compared with the $55 million during the same period last year.

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Malta was the second largest investor with net FDI of $56 million, which was the same amount of FDI ($56 million) as the same period last year.

Most investment in the first quarter of FY21, $113.3 million, took place in the power sector, followed by $102.5 million in the financial business sector, and $67.2 million in oil & gas exploration.

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