FDI in Pakistan rises to $358.8mln in April: SBP

Foreign Direct Investment (FDI) surged 172 per cent year-on-year in April 2024, according to data released by the State Bank of Pakistan (SBP).

The inflow in April was $358.8m compared to $132m in April FY23, a jump of 172pc. However, it was 39pc higher than March’s $258m.

The biggest investor was China, as the FDI from the country during July-April FY24 was the highest, with $439.3m compared to $604m in the same period last year. An investment of $177m came from China alone in April.

The United Arab Emirates and Canada remained second and third with $51.93 and 51.89 mln investment in Pakistan, respectively.

The biggest attraction for foreign investors during July-April FY24 was the power sector. The FDI in the power sector during this period was $637.5m, up from $776.2 m last year. Hydel Power attracted $460m this year compared to $338m last year.

Separately on Wednesday, it was reported that the per capita income of Pakistanis witnessed an increase and reached $1680 in FY2023-24.

According to the data released by PBS, the size of the national economy increased from $341 billion to $375 billion during the ongoing fiscal year.

The annual per capita income of Pakistanis also witnessed an increase of Rs 90,534 this fiscal year, while on a monthly basis the increase was Rs7,544.