Profit Repatriation in Thermal Sector Surges By 500% to $188 Million

The profits and dividend outflows on foreign investment in Pakistan increased by 500 percent in the country’s thermal sector during the first eleven months of the current fiscal year as compared to the same period of the last fiscal year.

Multinational companies working in the power sector repatriated $199 million in profit and dividends during the 11 months of the current fiscal year as compared to $45 million during the same period of the last fiscal year.

Out of the total repatriated amount by the power sector, the companies working in the thermal sector in the country sent $187.8 million during the first 11 months of the current fiscal year as compared to $31 million during the same period of the last fiscal year. The repatriated amount of the hydel sector increased from $7.5 million to $8.5 million, however, the repatriated profit of the coal sector decreased from 6.8 million to $2.5 million.

According to the State Bank of Pakistan (SBP), the total profits and dividend outflows were recorded at $1.6 billion during the 11 months of the current fiscal year as compared to $1.49 billion during the same period of the last fiscal year.

The increase in the repatriation of profits and dividends is attributed to higher earnings of foreign firms.

The repatriated profits and dividend of the food sector decreased by $78 million from $230 million to $152 million, tobacco and cigarettes by $40 million from $123 million to $78 million, transport by $36 million from $131 million to $95 million, telecommunication by $21 million from $165 million to $144 million and financial business by $49 million from $318 million to $269 million during the period.



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