Islamabad: Foreign Direct Investment (FDI) in Pakistan dropped 12 percent in the first four months of the current fiscal year.
In fact, the FDI inflow reached USD 662 million for four months, from July to October compared to USD 750.6 million in the same period last year, Pakistan Dawn newspaper reported data issued by the State Bank on Wednesday.
In October, the inflows were arrange by 24 pc to USD 223 million from USD 293 million in the same month in 2020.
The decline in FDI came when the Pakistani government desperately needed foreign inflows and was in negotiations with international monetary funds to commencement of loans , Dawn reported.
Meanwhile, the inflow of Pakistan’s largest trading partners – China has also fallen drastically to USD 116.5 million in July-October from USD 399.5 million in the same period in the same period in 2020.
In addition, rupees Pakistan also recorded a US decline in the US.
The dollar in the interbank currency market for months, the increase in the attention of the government Imran Khan showed that the country faced deeper economic problems, reported local media.
Pakistani Rupee was closed with a low of all time 175.73 to the US dollar.
Rupees have lost 13.34 percent and 10.35 percent since May 14 and July 1.
Apart from the edge of the state of Pakistan about the import and purchase of the greenback from the open market, Rupee has declined against the US dollar.
Foreign direct investment packs fall 12% in July-Oct
