According to the latest figures released by the State Bank of Pakistan (SBP) overall FDI maintained a downtrend trend and fell by over 53 percent during July-August 2016, when compared to same duration of last year.
However the overall communications sector comprising telecommunication, information technology and postal & courier services) registered $23.8 million net FDI with $35.3 million inflow and $11.4 million outflow.
Information Technology sector fetched $2.1 million Foreign Direct Investment (FDI) in July-August 2016 compared to $1.5 million in the corresponding period of last fiscal year.
Telecommunication sector registered $33.1 million inflow, $11.3 million outflow and $21. 8 million net FDI during the period under review.
Net FDI in software development remained at $0.8 million and in hardware development it measured at negative zero during July-August 2016.
SBP reported that FDI posted a decline of over 53 percent during the first two months.
Pakistan fetched FDI amounting to $112.6 million in July-August 2016 compared to $240.8 million in the corresponding period of last fiscal year, depicting a decline of $128 million. During the period under review, FDI inflows stood at $177 million against outflow of $65 million.
On a month-on-month basis, FDI fell by 57 percent during August 2016 compared to August 2015.
With $84 million inflows and $36 million outflows, FDI in August 2016 stood at $48.3 million against $113.7 million in August 2015, showing a decline of $65.4 million. Previously, FDI declined by 15 percent to $64.3 million in July 2016.
Thanks to huge amount of taxes, it will be reduced to zero….