The profit repatriation of foreign companies and investors from Pakistan had a modest growth of 10 percent ($117 million) during the ten months of the financial year 2020-21.
This indicates stability in the earnings of the concerned sectors despite the smart-lockdowns on account of the pandemic.
According to the statistics updated by the State Bank of Pakistan (SBP), the profit repatriation made by the foreign companies and investors had increased to $1.312 billion between July 2020 and April 2021, as compared to the $1.194 billion reported in the corresponding period of the last financial year.
The companies and investors that operate in the financial sector remained the major beneficiaries of profit-making as the sector reported the highest repatriation of $309 million during the period under review.
It was followed by the food sector as companies and investors returned dividends to the tune of $221 million. The transportation, oil and gas, chemicals, and telecommunication sectors are three other sectors with handsome outflows of dividends that were sent to their headquarters with over $100 million values.
Handsome dividends that stood at $485 million and $249 million were sent to the UK and the USA respectively.
It was observed that various banks and financial institutions had maintained business growth despite the business challenges caused by the pandemic.
Banks particularly had remarkable growth in profitability during the period with their exceptional contributions to shore up the economy in a difficult time. Investors from various government bonds also made impressive dividends during the period.
Furthermore, foreign investment inflows from various countries received a growth of 14 percent during the period July to April, which stood at $1.214 billion.