Pakistan received 10-month high foreign investment of $317.4 million in different sectors of the economy in October 2020, particularly power production, 3G/4G mobile internet and oil and gas exploration, according to central bank data released on Monday. Besides, global investors continued to pull investment out of government securities like treasury bills and Pakistan Investment Bonds (PIBs) and companies listed at the Pakistan Stock Exchange (PSX). Cumulatively, in first four months (Jul-Oct) of current fiscal year 2020-21, the foreign investment increased 9% to $733.1 million compared to $672 million in the same period of last year. Sector-wise FDIThe power sector received the largest investment of $239 million in October, which constituted around 75% of total investment of $317.4 million. Investment pulloutThe central bank reported that foreign investors pulled out a total investment of $243.7 million from government debt securities in October 2020.

Source: The Express Tribune November 17, 2020 04:18 UTC