Repatriation of profits and dividends on FDI goes up to $600 million
The biggest increase recorded was in the financial and insurance sector.
The repatriation of profits and dividends on foreign direct investment (FDI) in Pakistan have gone up to $600 million during the first five months of the FY20, showing an increased profit of companies having foreign investment.
On Wednesday, the State Bank issued data that showed profits on the FDI had gone up. However, profits on portfolio investment decreased during this period as well.
The profits outflow during the first 5 months were $600 million, this number stood at $562 million in the last fiscal year, while the outflow as payment against portfolio investment was $70 million, this number was previously $106 million.
The data shows that foreign investment has shown improved results as profits were higher than the previous fiscal year.
The highest outflow was from the manufacturing sector at $204 million. On the other hand, this outflow was higher in the last fiscal year as the number stood at $233 million previously.
The biggest increase recorded was in the financial and insurance sector. The profit went from $74 million to $117 million during the first five months. Last year, the profit outflow from this sector was $43 million.
The profit outflow from the transport and storage sector increased by $65 million to $94 million, which is greater than an outflow of $29 million last year.
Outflow from mining and quarrying increased to $101 million. However, the electricity and gas sector showed a decline as profit fell to $28 million from $62 million last year.
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