December 19, 2002	Thursday	Shawwal 14, 1423

ISLAMABAD, Dec 18: The flow of Foreign Direct Investment (FDI) registered an increase of 186 per cent to $462.1 million in July-November of the current financial year as against $161.6 million in the corresponding period of last year.

On monthly basis, the inflow of FDI during November 2002, was $63 million. The sale proceeds from privatization of UBL were also included in July-November 2002 FDI flows.

The major sectors, which attracted notable FDI during the period under review were financial businesses, $177.9 million; chemical, $77.3 million; Oil and Gas, $67.7 million; Transport, $36.7 million; trade, $18.8 million; textile, $17.4 million and others, $ 66.3 million.

The percentage share of major sector were financial businesses of 38.50 per cent; chemical 16.73 per cent; oil and gas 1.65 per cent; transport 7.94 per cent, trade 4.07 per cent, textile 3.76 per cent and others 14.35 per cent.

The share of major investing countries in FDI is: UAE 37.358 per cent; UK 21.77 per cent, USA 22.60 per cent, Saudi Arabia 4 per cent; Japan 2 per cent and others 13 per cent.

According to the announcement, the BOI was making extensive efforts for marketing the investment potential and opportunities of Pakistan to the foreign investors.

The visits of foreign business delegations to Pakistan have increased and investors delegations from Bahrain and Europe were currently in Pakistan.

Furthermore, delegation from Singapore would visit Pakistan next month to explore Pakistan’s potential and to have a meaningful interaction with the private sector.

The substantial increase in the inflow of FDI was an indicator that investor perception about Pakistan was fastly changing. During current financial year, it is expected that FDI inflows will cross $1 billion benchmark.