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Despite improved FDI, SBP shows dismal figures

Despite improved FDI, SBP shows dismal figures

LAHORE: The foreign exchange holdings of the State Bank of Pakistan have fallen by $379m to reach $3.845 billion after paying off $146m to International Monetary Fund (IMF). Furthermore, SBP governor Yaseen Anwar has disclosed a large scale smuggling of dollars through major airports of the country.

The Foreign Direct Investment (FDI) improved by $283m in the current fiscal year. However, this has not been welcomed as a great achievement by the critics since the fall of $432m in the ongoing month alone and the comparison of the inflow of FDI as compared to the same period of last fiscal year also showed negative growth.