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Foreign Direct Investment declines 29% in FY21
Amounts to just $1.85b due to travel disruption caused by Covid-19 pandemic
KARACHI:
The inflow of foreign direct investment (FDI) into different sectors of Pakistan’s economy fell 28.9% to $1.85 billion in fiscal year 2020-21 primarily due to the global travel disruption that prevented foreigners from visiting the country for investment purposes.
According to data released by the State Bank of Pakistan (SBP) on Friday, the foreign investment in Pakistan had stood at $2.6 billion in fiscal year 2019-20.
Speaking to The Express Tribune, Economist Muzammil Aslam said that the main reason behind the drop in FDI was the Covid-19 pandemic. He added that the number of foreigners who visited Pakistan in the last fiscal year nosedived on the back of global travel restrictions, hence the volume of direct investment declined as well.