Pakistan's foreign direct investment up 151% to $317.4m in October

KARACHI: Foreign direct investment (FDI) grew by 151 per cent to $317.4 million in October 2020 as compared to last year’s corresponding period, the State Bank of Pakistan (SBP) said on Monday.

According to data released by the central bank, Pakistan attracted $317.4 million worth of foreign direct investment, up 151 per cent when compared to FDI that flowed to the country last year in October.

Also Read: Current account balance in surplus highest in 17 years: PM Imran Khan

China topped the list of countries investing in Pakistan with $228.7 million investment last month.

FDI recorded a 9 per cent increase over the first four months of the current fiscal year as the country attracted $731.3 million worth of investment during July-October period, the SBP said.

Also Read: SBP foreign exchange reserves increase by $558mn

The foreign investment was recorded at $189 million in September 2020. The power sector received foreign direct investment (FDI) worth $113.3 million in the first quarter of the fiscal year 2020-21 while financial business $102.5 million.