KARACHI: Total gross divestment during March 2020 has reached $174.41 million, according to data released by the State Bank of Pakistan (SBP). Foreign investors divested $103 million net worth of treasury bills (T-bills) on March 3, as per the Special Convertible Rupee Account, which tracks inflows and outflows from foreign countries. Previously, foreign investors divested $67 million of T-bills on February 28, with total gross divestment in February 2020 reaching $263 million. According to Samiullah Tariq, director at Arif Habib Ltd, this is of note, as this is the first time there has been net selling in eight months. “Foreigners are selling their T-bills from places like Pakistan and India, and instead are investing in Japan or the US,” he said.

Source: Pakistan Today March 04, 2020 18:56 UTC