FDI in Pakistan records boost in first two months of ongoing fiscal year

KARACHI: The first two months of the ongoing fiscal year 2020-21 witnessed 40 per cent increase in foreign direct investment (FDI), ARY News reported on Friday.

According to data released by the State Bank of Pakistan (SBP), the FDI from July to August was recorded $220.7million. Major investments were recorded from Norway, Malta and Netherlands, the report further added.

Norway remained on the top of the list with $40.50 million.

On September 17, the State Bank of Pakistan’s (SBP) net reserves increased by $13 million to $12.82 billion during the week ended on September 11.

Detailing the position of the reserves, the SBP, in a statement had said that the overall foreign reserves of the country stood at $19.95 billion.

Giving its breakup, it had said that the SBP currently held the foreign reserves of up to $12.82 billion and $7.13 billion reserves held by the commercial banks.