Foreign Direct Investment in Pakistan Soars to $359 Million in April, Highest Since December 2019

The net Foreign Direct Investment (FDI) in the country rose to $359 million in April 2024, up 172 percent over the FDI of $138 million in the same month of FY23. According to Arif Habib Limited (AHL), the net FDI during April 2024 is the highest since December 2019. In April 2024, foreign direct investment inflows stood at $414 million, up 134 percent over inflows of $177 million in April 2023. While outflows in April 2024 stood at $55 million, up 22 percent compared to outflows of $45 million in April 2023. FDI inflows during the ten months of the current fiscal year (10MFY24) stood at $1.458 billion, up 8 percent compared to FDI inflows of $1.349 billion reported in 10MFY23. In 10MFY24, the highest FDI inflows of $439 million were received from China, followed by Hong Kong at $298 million, the United Kingdom at $219 million, the United States at $116 million and the UAE making the top five with inflows of $80 million. The power sector was the major recipient of FDI, attracting inflows of $638 million, followed by oil and gas exploration at $193 million, financial business at $170 million, and petroleum refining at $78 million.