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fdi: Pakistan: foreign direct investment falls 12% in July-October of the current fiscal year

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ISLAMABAD: Foreign direct investment (FDI) in Pakistan fell 12% in the first four months of the current fiscal year. In real terms, FDI inflows amounted to $ 662 million in the four months, July to October, compared to $ 750.6 million in the same period a year ago, reported Wednesday. Pakistani newspaper Dawn, published by the State Bank. In October, inflows plunged 24% to $ 223 million, from $ 293 million the same month in 2020. The drop in FDI comes at a time when the Pakistani government is in desperate need of foreign capital inflows and is in negotiations with the International Monetary Fund. for resuming loans, Dawn reported. Meanwhile, inflows from Pakistan’s biggest trading partner – China also dropped drastically to $ 116.5 million in July-October, from $ 399.5 million in the same period in the same. period in 2020. In addition, the Pakistani rupee also recorded a decline against the United States. dollar in the interbank currency market for months, with growing concern for Imran Khan’s government indicating that the country faces a deeper economic problem, local media reported. The Pakistani rupee closed at an all-time low of 175.73 against the US dollar. The rupee has lost 13.34% and 10.35% since May 14 and July 1 respectively. Despite restrictions imposed by the State Bank of Pakistan on imports and purchase of greenbacks on the open market, the rupee has fallen against the US dollar.

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