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.
