China emerged as leading investor, contributing 16% of total FDI in recent month 

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ISLAMABAD, JUN 26 (DNA) — China with $81.9 million has emerged as the leading investor, contributing 16% of the total FDI in the recent month. Gwadar Pro quoting the latest report from the State Bank of Pakistan, stated on Wednesday, Pakistan received a net foreign direct investment (FDI) of $81.9 million in May of the fiscal year 2023-24, with a cumulative inflow of $511.4 million from various countries during the same period.

China with $81.9 million emerged as the leading investor, contributing 16% of the total FDI.  In May, Pakistan attracted $73.7 million from Saudi Arabia, $26.9 million from the UK, $23.3 million from Hong Kong, China, $22.2 million from the United States, and $8.1 million from Canada. 

The remaining investment came from other countries. Sector-wise, petroleum refining led with $110.6 million, followed by the power sector which received $104.9 million (with breakdowns of $3.8 million in thermal, $76.9 million in hydel, and $24.1 million in coal). 

The oil and exploration sector attracted $88.7 million, financial business $17.9 million, and the communication sector $10.7 million. The rest of FDI went to different other sectors.   From July to May of FY-24, Pakistan received a total of $1,170.7 million ($1.1707billion) in FDI, marking a significant increase of 142.9% compared to the $482 million recorded during the same period in FY-23. 

China remained a pivotal contributor with $521.2 million in FDI from July to May FY-24, accounting for 44.6% of Pakistan’s total FDI, the report added. — DNA