KARACHI: State Bank of Pakistan (SBP) has said that the foreign direct investment (FDI) into the country has increased by 47pc from July to October this financial year as China invested $163m, which is more than other country invested during this period.
According to SBP, the country received $423 million during July-October compared to $288m during the same period of last year. The inflows posted a sudden increase in October, turning around a year-on-year fall of 26pc in July-September quarter to a 47pc rise in the four-month period.
Pakistan received just $169m as foreign direct investment in the first quarter. The inflows in October alone amounted to $252m.
However, the main inflow which changed the depressing situation was from China which invested $163m out of the total $423m. The government has been making efforts to bring Chinese investment in the country. Prime Minister Nawaz Sharif recently signed memoranda of understanding (MoUs) with Chinese companies for $42 billion investment here. The United States and Hong Kong were other two countries who made significant investment of $75.2m and $74.6m, respectively.