Foreign companies profit repatriation rises by 18% in Pakistan
The sectors that have contributed to the growth in the repatriation of profits include financial, transportation, oil, and gas exploration.
The sectors that have contributed to the growth in the repatriation of profits include financial, transportation, oil, and gas exploration.
During the first half of the current fiscal year, the foreign banks and insurance companies invested $124.2 million- SBP
Oil and gas exploration, tobacco and cigarettes, chemical and petrochemical, and personal services sectors managed to dispatch comparatively higher profits.
During the first half of the current fiscal year, foreign companies working in the production and services sectors of Pakistan, have managed to achieve 18% higher profits, which stood at $743.2 million, in their own countries.
The sectors that have contributed to the growth in the repatriation of profits include financial, transportation, oil, and gas exploration. However, the repatriation of profits does not fully reflect the actual earnings of the companies in Pakistan.
State Bank of Pakistan
On Thursday, the State Bank of Pakistan revealed in its report that during the first half of the current fiscal year, the foreign banks and insurance companies invested $124.2 million as compared to $60.8 million sent overseas during the same period last year.
Sectors with High Profits
| Sector | Growth in the first half of FY 20 |
| Financial business sector | 13.25 percent |
| Banking sector | 40 percent |
| Transportation and Storage sector | 3.56 percent |
Sectors with Low Profits
| Sector | Profit as compared to the last fiscal year |
| Petroleum Refinery sector | Loss worth millions |
| Furnace oil (co-products like petrol and diesel) | Loss worth billions |
| Rubber Product sectors | Zero profit |
| Fertilizer and Electronic sectors | Zero profit |
| Textile sector | Zero profit |
| Manufacturing sector | 12 percent less |
Oil and gas exploration, tobacco and cigarettes, chemical and petrochemical and personal services sectors managed to dispatch comparatively higher profits.
Also See:
Pakistan Receives $1 Billion As High Interest Rates Attract Foreign Investors
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