Foreign companies’ repatriation of profits and dividends rose to $887 million in the first 10 months of financial year 2023-24, up by 250 percent year-on-year (YoY) from $253.4 million in the same period last year.
In April 2024, however, this figure came in quite low at $56.6 million, according to data released by the State Bank of Pakistan.
The Manufacturing sector had the highest payments on total foreign investments, totaling $226.9 million in 10HFY24, up 646 percent compared to $30.4 million in the same period last year.
Profit repatriation from the wholesale and retail trade | repair of motor vehicles and motorcycles sector clocked in at $213.5 million during the period in review, compared to $4.8 million in foreign investments in SPLY.
Outflows from the Financial and Insurance Activities sector totaled $150.6 million in the 10 months and $16.3 million in April 2024. Meanwhile, payments from the Electricity, Gas, Steam, and Air Conditioning Supply sector clocked in at $122 million during the 10 months and $7.5 million in April.
The Mining and Quarrying sector returned $50 million in 10HFY24 and $16 million in April 2024 in profits to their overseas outlets.
Notably, higher earnings in multiple sectors allowed overseas companies to repatriate higher returns.
Follow ProPakistani on Google News & scroll through your favourite content faster!
Support independent journalism
If you want to join us in our mission to share independent, global journalism to the world, we’d love to have you on our side. If you can, please support us on a monthly basis. It takes less than a minute to set up, and you can rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.
