During the initial 10 months of the fiscal year 2023-24, foreign companies saw a significant increase in profit and dividend repatriation, reaching $887 million, marking a 250 percent year-on-year surge from $253.4 million in the corresponding period of the previous year, according to data released by the State Bank of Pakistan.
However, in April 2024, this figure dropped substantially to $56.6 million.
The manufacturing sector led in total foreign investment payments, amounting to $226.9 million in the first 10 months of FY24, showing a notable 646 percent increase compared to $30.4 million in the same period last year.
Profit repatriation from the wholesale and retail trade, along with repair of motor vehicles and motorcycles sector, stood at $213.5 million during the reviewed period, compared to $4.8 million in foreign investments in the same period last year.
Outflows from the financial and insurance activities sector totaled $150.6 million in the 10 months, with $16.3 million in April 2024. Meanwhile, payments from the electricity, gas, steam, and air conditioning supply sector amounted to $122 million during the 10 months and $7.5 million in April.
The mining and quarrying sector repatriated $50 million in profits during the first 10 months of FY24, with $16 million in April 2024.
Notably, increased earnings across various sectors facilitated higher returns for overseas companies.
