The outflow of profits and dividends on foreign investments from Pakistan increased by 3.72 percent to $776 million during the first five months of the current fiscal year compared to $748 million in FY21.
According to the numbers released by the State Bank of Pakistan (SBP), profit outflows increased while the outflows of profits earned through foreign direct investment (FDI) fell to $693.8 million from last year’s $707.5 million in July-November FY2022.
The figures showed that the outflow of payments against portfolio investments rose to $82.1 million as opposed to $40.6 million in the previous fiscal year.
An extended analysis of the data revealed that the food industry outflows decreased to $106 million from $161.9 million a year ago. Moreover, in the first five months of FY2022, the gas and exploration sector sent home $26.6 million. This industry had repatriated $61.7 million last year.
Financial businesses had the biggest outflows with $148.2 million in repatriated earnings in July-November FY2022 as compared to $92.5 million during the same period last year. The profits and payouts of multinational corporations have slowed down.
Moreover, the telecommunications sector’s profit outflows fell to $52.4 million from $104.6 million during the period under review.
