Pakistan records 59pc drop in FDI during HIFY23

KARACHI (Web Desk) - The Foreign Direct Investment (FDI) into the country dropped by 59 per cent during the first half of fiscal year (FY23), the State Bank of Pakistan (SBP) data shows.

According to the central bank, the country received $461 million FDI during July-Dec of FY23 against $1.115 billion in the same period of last fiscal year (FY22).

During this period, the FDI inflows were $932.5 million and outflows $472 million.

Net foreign portfolio investment also posted negative growth with $13 million outflows during the first half of this fiscal year.

As the country has repaid Sukuk bonds worth $1 billion in December 2022, the foreign public investment also recorded a 938 percent decline during the period under review.

Total foreign investment including FDI, portfolio investment and foreign public investment recorded some 181 per cent decline in the first half of FY23.

Total foreign investment in the country stood at negative $572m in July-Dec of FY23 compared to an investment of $709m in the same period of last fiscal year.