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.

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  • 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.

foreign companies

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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