FDI surges by 30% to $853m in 10 months of FY13
Saturday, May 18, 2013
KARACHI: Net foreign direct investment (FDI) into Pakistan rose 29.71 percent in the 10 months of the current fiscal year FY that ended in April to reach $853.5 million, as against of $658 million in the corresponding period of last FY 2011-12, according to figures released by the State Bank of Pakistan (SBP) on Friday.
The country received foreign private investment of $1.07 billion in July to April 2012-13, which was up by 79.92 percent as against $594.7 million in the corresponding period of last year. The countrys bourses fetched foreign investment of $219 million, registering 445 percent increase in 10 months of current FY 13, the SBP data said.
The better returns on investment in the Karachi stock market and the market making a record-high level of 20,566 points for the first time in the history were the main reasons behind increase in foreign investment. Between last July and April, there was an inflow of $1.9 billion and outflow was $1.04 billion, according to the SBP data.
During April, net FDI increased to $231.6 million from $57.2 million a year earlier in the same month. In the year earlier, there was an inflow of $1.8 billion and outflow of $1.06 billion. During April 2013, inflow reached $301 million as against $154 million in the same month of last year.
On the other hand foreign public investment (FPI) rose massively 705 percent in the 10 months of current FY to $1.9 billion. Moreover, Pakistan has announced a new, Easy-to-Invest policy to encourage FDI and provide several new incentives.
Investment Policy-2013 and FDI Strategy 2013-17 focus on curtailing the cost of doing business, and cutting down the red tape, procedures and processes. The key objective is to reduce the time constraints and cost of starting business and industrial operations in Pakistan. The two also focus on further enhancing Pakistans international competitiveness in attracting, starting and long-term continuation of businesses, industrial, and financial operations. The competitiveness is already fairly good, but the Investment Policy and FDI Strategy will improve them still more.
The new policy stresses liberalisation of the economy through more facilitation to investors, fullest protection to investment, removal of regulatory impediments, promoting public-private partnership, and better coordination
among stakeholders. staff report
Saturday, May 18, 2013
KARACHI: Net foreign direct investment (FDI) into Pakistan rose 29.71 percent in the 10 months of the current fiscal year FY that ended in April to reach $853.5 million, as against of $658 million in the corresponding period of last FY 2011-12, according to figures released by the State Bank of Pakistan (SBP) on Friday.
The country received foreign private investment of $1.07 billion in July to April 2012-13, which was up by 79.92 percent as against $594.7 million in the corresponding period of last year. The countrys bourses fetched foreign investment of $219 million, registering 445 percent increase in 10 months of current FY 13, the SBP data said.
The better returns on investment in the Karachi stock market and the market making a record-high level of 20,566 points for the first time in the history were the main reasons behind increase in foreign investment. Between last July and April, there was an inflow of $1.9 billion and outflow was $1.04 billion, according to the SBP data.
During April, net FDI increased to $231.6 million from $57.2 million a year earlier in the same month. In the year earlier, there was an inflow of $1.8 billion and outflow of $1.06 billion. During April 2013, inflow reached $301 million as against $154 million in the same month of last year.
On the other hand foreign public investment (FPI) rose massively 705 percent in the 10 months of current FY to $1.9 billion. Moreover, Pakistan has announced a new, Easy-to-Invest policy to encourage FDI and provide several new incentives.
Investment Policy-2013 and FDI Strategy 2013-17 focus on curtailing the cost of doing business, and cutting down the red tape, procedures and processes. The key objective is to reduce the time constraints and cost of starting business and industrial operations in Pakistan. The two also focus on further enhancing Pakistans international competitiveness in attracting, starting and long-term continuation of businesses, industrial, and financial operations. The competitiveness is already fairly good, but the Investment Policy and FDI Strategy will improve them still more.
The new policy stresses liberalisation of the economy through more facilitation to investors, fullest protection to investment, removal of regulatory impediments, promoting public-private partnership, and better coordination
among stakeholders. staff report
