KARACHI: The repatriation of profits and dividends on foreign investment increased to $1.13 billion during the first nine months of 2020-21 compared to $1bn in the same period of last year.

The State Bank’s latest data issued on Tuesday showed that the highest profits so far sent out from the food sector amounted to $221 million against $55m last year.

The outflow of profit and dividends from financial business (banks) rose to $165.8m in 9MFY21 compared to $162m last year.

The repatriation of profits from telecommunication sector jumped to $104m in 9MFY21 against $26.3m in the same period last year.

However, the profits outflow from transport sector dropped to $106.5m compared to $140m while oil and gas sector could send out profits worth $95m in 9MFY21 against $203.6m in the same period of last year.

Profits outflow from tobacco and cigarette saw over 100pc increase to $85m compared to $36m in the same period of last year.

Published in Dawn, April 28th, 2021