Foreign investment witnesses 238% growth, increases to $650m from $192m
For the first time, treasury bills set a record by attracting a huge investment worth $800m, SBP.
During the current year, foreign investment has jumped to $650 million compared to $192m during the same period last fiscal year, SBP.
The telecommunication sector alone attracted investments worth $267m.
Telecommunication, along with other sectors like oil, and gas has been a fascination for foreign investments.
On Monday, State Bank of Pakistan released data that stated that in the first four months of the current fiscal year 2019-2020, the foreign direct investment (FDI) jumped by 238pc.
In the current year, foreign investment jumped to $650 million from $192m during the same period last fiscal year, stated the SBP report.
Foreign Direct Investment
The significant inflow in the FDI came from a cellular service provider from Norway. The figure was $263.7m. An additional $122m came in from China. China is the biggest investor in the country right now due to the ongoing CPEC.
The telecommunication sector alone attracted investments worth $267m. Along with the oil, gas, and power sector, the telecommunication sector has been the main fascination for foreign investments.
On the other hand, investment through electrical machinery in FDI recorded as 72m. However, the oil and gas sector was able to attract investments worth $40m over $20m when compared to the same period last year.
Foreign Portfolio Investment
The FPI, which includes stocks and bonds, reached $665.7m. Moreover, in the current fiscal year, both investments, the equity market, and government security debts have seen substantial growth.
For the first time, treasury bills attracted a huge amount worth $800m and set a new record. However, according to the analysts and researches, the foreign investors’ confidence has reinstated in Pakistan. We have been able to achieve that due to improvement in ease of doing business.