The net foreign investment has shown tremendous growth in the three quarters of the financial year 2019-20 with year-on-year growth of 380 percent.
According to the State Bank of Pakistan’s data, the total foreign investment stands at $2.37 billion during the period of July to March as compared to $494 million in the corresponding period of last year.
Foreign Direct Investment (FDI) in the real sector stands at $2.14 billion with an increase of 137 percent from $905 million last year. Similarly, inflows of Foreign Portfolio (FPI) in debt securities and stock exchange stood at $331 million by the end of March of the current financial year.
FDI in March recorded an increase of $278 million whereas, FPI recorded a huge outflow of $1.83 billion from the government papers and the equity market.
FDI inflows from China were the highest at $872 million followed by Norway with $288 million. FDI from UK and USA stood at $64.9 million and $90 million respectively, with investment from both countries seeing a massive outflow in debt securities during the last month.
The power sector attracted an investment of over $750 million followed by the telecom sector with a $464 million. FDI in financial business landed at $210 million and $143 million in electrical machinery.
The inflow situation has been impressive so far in the current financial year however the global economic outlook is uncertain in 2020 due to the COVID-19 pandemic and its repercussions on the businesses and investment climate all over the world.
I am reading news for the past 20 years, but I have never seen the manipulation of numbers like that in my life.
The current FDI (Foreign Direct Investment) numbers are compared with one year of PTI(2018) rather than with the numbers from the last year.
Since PTI’s performance was worst during the last year, so they are claiming that they have reached the highest growth of FDI during this year.
The truth is that “our FDI has decreased sharply for the past 2 years compared to the last 5 years before PTI. It is constantly on a downward trend”. Unemployment is rife and industry manufacturing is rapidly shrinking. Our exports are decreasing day by day and economy is stagnant for the past 2 years.
Please speak the truth and don’t manipulate the news. Journalism requires speaking the truth rather than the manipulation.
Also some recent money has come from Malta and suddenly Stock market went up. Whose money came from Malta (a famous safe heaven for Corrupt Pakistanis). Please investigate that Who is benefiting from it?.