Sunday, October 25, 2020

Chinese investment in Pakistan jumps 45.26% in first half of FY19

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
Foreign Direct Investment (FDI) from China in Pakistan increased by 45.26 percent to US$1,104.2 million in first half (July-December) of current fiscal year against the investment of $760 million recorded during same period of last year.

According to latest data released by State Bank of Pakistan (SBP), FDI from United Kingdom also increased to $116 million in first half of FY19 compared to investment of $113.2 million in same period of the preceding year.

Similarly, FDI from United Arab Emirates (UAE) also surged to $49.2 million in Jul-Dec (2018-19) from $16.2 million in same period of the year 2017-18, the data revealed.

 

Meanwhile, spokesperson of Ministry of Finance in a tweet said that due to investment friendly policies of government of Pakistan, FDI has increased in December by 17 percent. He said, Pakistan witnessed a 17 percent increase in FDI to $319.2 million in December 2018 compared to $272.8 million during December 2017. China invested $120.6 million followed by Norway and Netherlands with investment of $65.2 million and $47.6 million respectively, he added.

 

The investment from the Netherlands increased to $52.8 million compared to FDI of $49.9 million recorded during Jul-Dec (2017-18). The SBP data revealed that South Korean investment in Pakistan during the period under review swelled to $59.6 million against the FDI of $2.7 million recorded during July-December (2017-18).

 

Likewise, the FDI from Germany went up from $14.2 million in first half of current fiscal year to $20.7 million, whereas FDI from Hong kong also made a stride from $2.1 million FDI in Jul-Dec of FY18 to $37.8 million in same period of current fiscal year.

 

The FDI from Bahrain in Pakistan increased from $7.5 million to $15.9 million while the investment from Japan surged to $54.2 million from $28.3 million during the period under review. The FDI from United States, however declined from $72 million in first six months of the year 2017-18 to $54 million in same period of current fiscal year.

 

Similarly investment from Switzerland also declined from $37.3 million to $15.6 million, the data revealed.

 

The sector wise data shows that the FDI in oil and gas exploration rose to $134.7 million in Jul-Dec FY19 compared to the FDI of $106.7 million in same sector during same period of last year.

 

Similarly, in textile sector the FDI also rose to $32.2 million from $25.8 million, whereas in electrical machinery, the FDI jumped to $124.7 million in the corresponding period of current fiscal year against $10.9 million investment during same period last year.

 

In transport equipment (automobile) sector, the FDI also increased from just $1.5 million to $54.5 million.

 

The FDI in financial business however recorded a decline as it decreased to $203 million from $276.1 million, whereas, the FDI in power sector also fell to $201.9 million in first half of FY19 from $611.9 million in same period of last year.

 

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

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