Prospering economy: Investors took $2.10 bn abroad as far as benefit
LAHORE (City News)- Economic stats continue to flourish with improvement in law and order situation as foreign investors have taken whooping $2.10 billion abroad from Pakistan in terms of profit in the fiscal year (FY) 2016-17, reported Roznama Dunya on Wednesday.
Similar stats stood at $1.91 billion for the FY 2015-16.
According to details available, Pakistan received $2.41 billion of direct foreign and public investment in the previous fiscal year.
Investors benefitted most from the financial sector as $390.10 million profit was withdrawn from it whereas food sector remained second with $270.10 million profit. Likewise, telecommunication sector earned profit of USD180 million dollar out of which $170.70 were sent abroad. $160.60 million profit were taken aboard in terms of profit from power sector whereas $140 million profit were sent abroad from chemical sector. Oil & Gas sector transferred $130.90 million abroad in terms of profit.
The figures for food packaging, beverages, tobacco, and fertilizer sectors stood at $30.40 million, $70.94 million, $50.30 million and $0.91 million respectively.
Electronics and transport sectors earned profits of $1.56 million and $110.60 million respectively. Similarly, investors earned $1.73 billion profit from foreign direct investment whereas another $370.60 million were earned from indirect foreign investment.