Profit Repatriation Hits 17-Month High of $164 Million in September 2023

Foreign companies’ repatriation of profits and dividends rose to $163.7 million in September 2023, up by 448 percent from $29.9 million in the same period last year.

According to Arif Habib Limited, this is the highest level of profits/dividends repatriated in 17 months.

In July-September 2023-24 (1QFY24), this figure also saw a significant rise of 266 percent to reach $213 million, according to data released by the State Bank of Pakistan.

Repatriation of profits and dividends witnessed at 17-month high during Sep’23 to USD 164mn

During Sep’23, the repatriation of profits and dividends in Pakistan reached a 17-month high, surging by 448% YoY to USD 164mn. In 1QFY24, this figure also saw a significant rise of 266%… pic.twitter.com/o5nBbO1I5u

— Arif Habib Limited (@ArifHabibLtd) October 25, 2023

The Financial Business sector had the highest payments on total foreign investments, totaling $33.3 million in September, compared to $4.8 million in the same period last year.

Profit repatriation from the Petroleum Refining sector clocked in at $26.3 million during the period in review, compared to zero payments on foreign investments in SPLY.

Outflows from the Electricity, Gas, Steam, and Air-Conditioning sectors totaled $13.6 million in September, while the payments from the Manufacturing sector clocked in at Rs. 35.3 million during the period in review.

Meanwhile, Electronics firms returned $6.4 million in profits to their overseas outlets.