Power sector attracts most of foreign investors’ attention during 11 MFY20
ISLAMABAD: Despite Covid-19 pandemic, multinational firms have continued to poured investment into ongoing projects in different sectors of Pakistan such as Power, Communication, Oil &Gas and Financial Businesses etc.
According to the latest data released by the State Bank of Pakistan (SBP) on total Foreign Investment received by sectors, the Power sector has received the highest net foreign investment of $749.6 million during Jul-May FY20. Compared to the same period of last year, the sector observed net outflows of $324.5 million. Coal Power projects under Power Segment attracted the most of investors’ attention as it received the highest net inflows of $544.9 million.
A detailed analysis revealed that the second sector with higher net flows in Pakistan is Communication sector, as it fetched net $583.8 million, compared with the disinvestment of $52.9 million net in the same period last year.
The third-highest net FDI receiver is Oil & Gas Exploration sector with net inflows of $275.9 million in Jul-May FY20, showing a decline of 19% as the sector observed $339.2 million net foreign inflows in Jul-May FY19.
The next in line is the Financial Businesses, which recorded net inflows of $256.8 million. Compared to the corresponding period last year, the sector’s inflows declined slightly by 5% YoY.
Other sectors such as Electrical Machinery, Automobile and Textile also managed to fetch decent investments worth $153.4 million, $53.8 million and $35.9 million respectively during the period under review.
On the other hand, the sectors which saw foreign disinvestment during 11MFY20 include; Transport, Petroleum Refining and Personal services. - MettisLinkNews