Pakistan’s FDIs to touch $1.3 billion by June 2016: BOI

BusinessPakistan's FDIs to touch $1.3 billion by June 2016: BOI

ISLAMABAD, Pakistan: Pakistan’s foreign direct investments are expected to touch $1.3 billion or more by the end of this year due to encouraging first six months figures as compared to the last year in the same period.

This was disclosed by a spokesman of Board of Investment (BOI) here on Saturday.

According to FDI statistics for the first six months of the fiscal year (July – Dec 2015), the total FDI inflows touched $ 1087.2 millions whereas the net FDIs stood at $ 624.1 millions as compared to $ 610.4 million last year in the same period reflecting an increase of 2.2%.

The encouraging news is that the outflows of FDIs have shown a marked decrease falling from $ 1171.1 millions to $ 463 million in the same period.

Keeping in view the upward trajectory this year, total foreign direct investments are expected to touch $ 1.3 billion this fiscal year as compared to $ 851 million in the last fiscal year 2014-15.

Energy Sector attracted the major chunk of FDIs amounting to $ 365 million in which coal sector bagged $ 230 million, while thermal sector got $ 93.4 million and hydel power $ 41.3 million of investments.

The other major sectors remained oil and gas explorations $ 157 million, communications $127.2 million and financial services $74.7 million.

The major contributing countries remained China $428.2 million, United Arab Emirates (UAE) $112.6 million, United States $96.5 million and Hong Kong $74.1 million.

Source: APP

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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