Friday, May 24, 2024

During 1HFY21, international investors repatriated $892 million

According to data released by the State Bank of Pakistan (SBP) on Tuesday, foreign companies operating in Pakistan repatriated about $892 million as a profit and dividend during the first half (July to December) of fiscal year 2020/2021 (1HFY21).

In contrast to $836 million in the same half of last fiscal year, the repatriation of profit and dividend was 6.7 percent higher.

During the first half of the current fiscal year, a sum of $840 million was repatriated against foreign direct investment (FDI) compared to $743 million in the same half of the last fiscal year, showing a rise of 13%.

The repatriation of funds against portfolio investment, however, fell to $52.2 million as during the half under review as compared with $93 million within the same half the lat financial year .

Major repatriation was witnessed in food sector which recorded $172.9 million against the entire foreign investment during July – December 2020/2021 as compared with $54.6 million within the same period of the last financial year .

The foreign companies engaged in telecommunications repatriated around $105 million during the primary half the present financial year as against $26 million within the same half the last financial year .

The repatriation of profit and dividend by companies in financial businesses reduced to $133.5 million during the half under review as compared with $155.6 million within the same half the last financial year.

During the period under review, the profit repatriation of beverage firms also rose to $39 million, compared to $28 million in the same period of the previous fiscal year.

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