ISLAMABAD: Pakistan received a net foreign direct investment (FDI) of US$ 31.7 million from China in October, bringing the total FDI from the friendly neighboring country to $158 million in the first four months of FY 2023-24.
According to statistics released by the State Bank of Pakistan (SBP), the total inflow from China in October was $33 million.
Considering an outflow of $1.3 million, net FDI from China was registered at $31.7 million, Gwadar Pro reported on Tuesday.
In October, total FDI from countries worldwide was recorded at $126.8 million, with China emerging as the leading contributor.
In October, the United Kingdom emerged as the second largest investor with $16.8 million, followed by the United States with $15.8 million.
As per the provisional data from SBP, during the first four months of FY 2023 24, Pakistan attracted $538.8 million in FDI from various partner countries worldwide.
Among them, an FDI of $158 million was received from China, constituting 29.33% of the total investment received by Pakistan in the July-October period of FY 2023-24.
In October 2023, the power sector in Pakistan garnered a total of $48.2 million in FDI, distributed across various sub sectors: $28 million in coal, $17.2 million in hydel, and $3 million in thermal. Additionally, the electronic sector attracted $13.5 million, industries received $12 million, financial businesses secured $8.5 million, and petroleum refining drew $7.4 million.
The trade sector saw an influx of $5.9 million, personal services received $5.2 million, while the Pharmaceutical and OCT Sectors attracted $3.7 million.
Information Technology garnered $3.6 million, cement received $2.6 million, transport secured $1.8 million, and tourism attracted $1.6 million. Furthermore, $18.1 million was infused into other sectors. –INP
