Foreign direct investment surges 151pc to $317m in October

Foreign direct investment (FDI) into the country surged 151pc year-on-year to $317.4 million in October 2020, compared with $126.5 million in the same month of last year, data released by the State Bank of Pakistan (SBP) showed on Monday.

During the month review, China invested $228.7 million in the country while the power sector absorbed around $239 million.

Cumulatively, FDI during the four-month (July-Oct) FY21 period jumped nine per cent to $733 million compared to $672 million in 4MFY20.

During the current financial year and the last two quarters of FY20, foreign investors have dumped their holdings in stocks as well as government-backed securities due to Covid-19, lower interest rates and an appreciation of the rupee against dollar.

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