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Foreign Direct Investment rises by 57pc

Foreign Direct Investment rises by 57pc

KARACHI: Foreign Direct Investment (FDI) has increased by 57 percent during the first five months of current fiscal year due to heavy inflows from China.

The FDI increased to $1,146 billion during July – November 2017 as compared with $729.4 million in the corresponding months of the last year, according to data released by State Bank of Pakistan (SBP) on Friday.

The FDI from China registered phenomenal growth of 285 percent growth to $837.4 million in first five months of current fiscal year as compared with $217.3 million in the same period of the last fiscal year.

The ongoing projects under China – Pakistan Economic Corridor (CPEC) enhanced the FDI in sectors including power and construction.

The inflows of FDI in power sector registered growth of 151 percent to $539 million during July – November 2017 as against $214.5 million in the same period of the last year.

Similarly the FDI flows in construction sector rose by around six times to $271.3 million during the first five months of the current fiscal year as compared with $38.9 million in the corresponding period of the last fiscal year.