Foreign Direct Investment in Pakistan Fell 56.9% in Six Months
PAKISTAN - 15 JANUARY 2010
By Farhan Sharif
Jan. 15 -- Overseas direct investment into Pakistan dropped 56.9 percent in the first six months of the fiscal year that started July 1, the central bank said.
Investment in the six months ended Dec. 31, fell to $1.01 billion from $2.35 billion a year earlier, according to an e- mailed statement from the Karachi-based State Bank of Pakistan. Global funds bought $310.5 million more Pakistani stocks than they sold in the six months, compared with net sales of $163.8 million a year ago, the central bank said.
Pakistan needs overseas investments to bolster an economy that expanded two percent in the year ended June 30, compared with a 5.8 percent increase in the previous 12 months. The government expects gross domestic product will grow 3.3 percent this fiscal year.
Foreign direct investment fell to $3.72 billion last fiscal year from $5.4 billion in the previous 12 months.
Source: Bloomberg
PAKISTAN - 15 JANUARY 2010
By Farhan Sharif
Jan. 15 -- Overseas direct investment into Pakistan dropped 56.9 percent in the first six months of the fiscal year that started July 1, the central bank said.
Investment in the six months ended Dec. 31, fell to $1.01 billion from $2.35 billion a year earlier, according to an e- mailed statement from the Karachi-based State Bank of Pakistan. Global funds bought $310.5 million more Pakistani stocks than they sold in the six months, compared with net sales of $163.8 million a year ago, the central bank said.
Pakistan needs overseas investments to bolster an economy that expanded two percent in the year ended June 30, compared with a 5.8 percent increase in the previous 12 months. The government expects gross domestic product will grow 3.3 percent this fiscal year.
Foreign direct investment fell to $3.72 billion last fiscal year from $5.4 billion in the previous 12 months.
Source: Bloomberg
