Karachi: Pakistan received foreign direct investment (FDI) of $330.7 million in the period July-November, which is 4.7% higher than $315.8 million it attracted in the corresponding five-month period in the last fiscal year.
However, FDI dropped 26% year-on-year to $47.1 million in November, according to data released by the State Bank of Pakistan. In the fiscal year 2012-13, Pakistan had received FDI worth over $1.4 billion.
The oil and gas sector attracted the highest amount of FDI in the July-November period. It attracted a net foreign investment of $179.5 million, which is 15.8% higher than the investment of $155 million it received in the corresponding five-month period in the previous fiscal year.
Improved net FDI in financial business ($64.2 million), chemicals ($61.7 million), tobacco and cigarettes ($45.2 million), food ($35.4 million) and automobile ($12.3 million) sectors led to the overall growth in FDI in the country during the five-month period, SBP data showed.
In contrast, a major dip in FDI was registered in the telecommunications sector, where a net outflow of $110.6 million was recorded in the period under review. Another sector that witnessed a considerable net outflow of FDI in July-November was electrical machinery ($11.1 million).
As for the foreign portfolio investment (FPI), which includes foreign public investment, Pakistan attracted only $68.2 million during the July-November period as opposed to $140.3 million in the corresponding period last year. This reflects a year-on-year decline of 51.3% in FPI.