Foreign investment drops 32 5 pc in 10 months in Pakistan aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
This has placed a big question mark over the investment climate in the country.
Besides, rampant uncertainty across the globe due to Covid-19 – including Pakistan – has encouraged international investors to hold back new investment plans until things settle down in the coming months and years.
The inflow of foreign direct investment (FDI) into the country dropped 32.5% to $1.55 billion in the first 10 months of current fiscal year 2020-21 compared to $2.3 billion in the same period of last year, the State Bank of Pakistan (SBP) reported on Friday.
Read: ‘One-window operation to boost investment’
In April alone, foreign investment improved to $158.4 million compared to $151.1 million in the same month of previous year.
Market watch: KSE-100 rises on return from holidays
Benchmark index gains 621.64 points to close at 45,796.31
PHOTO: ONLINE
KARACHI:
Bulls dominated trading at the Pakistan Stock Exchange (PSX) during the first trading session on Monday after the week-long Eid holidays amid renewed optimism.
Market players took cue from a host of positive developments during the week. Investor sentiment, which kept on fluctuating on the last trading day (May 6) before the long break, settled down due to clarity on the economic front.
A drop in Covid-19 cases coupled with positive expectations about the upcoming budget kept the investment climate attractive.
Lending further support to the rally, Morgan Stanley Capital International (MSCI) on Wednesday (May 12) conducted a semi-annual review to recompose its global indexes.
Industries default on debt payments
Default cases surged in 1QCY21 despite schemes to get loans deferred and rescheduled
The NPLs to gross total loans had surged to 9.7% in January-June 2020 compared to 8.8% in the same half last year, according to the performance review. PHOTO: FILE
KARACHI:
Contrary to the government claim of rebound in industrial output, a number of industries in sectors including leading automobile and sugar have defaulted on paying off debt owed to banks in the quarter ended March 31, 2021.
The default cases have surged in the quarter despite offer of scheme to banks’ clients to get their loans deferred and rescheduled for one year or for more time period to cope with the Covid-19 pandemic.