KARACHI: The foreign direct investment (FDI) dropped 26 per cent to $169.5 million during the first two months of the current fiscal year (FY23), the State Bank of Pakistan (SBP) reported on Thursday.

The FDI during July-August fell to $169.5m compared to $229.5m in the same period of last year.

Pakistan’s new government could not find a breakthrough for FDI while the uncertain political scenario made it more difficult for foreign investors to put their money in. When compared to the same month last year, FDI inflows fell by 12pc to $110.7m in August.

China continued to lead in terms of FDI with $32.7m, while the United Arab Emirates came in second with $25.7m invested in the first two months of FY23. Other significant investments were from Switzerland, with $23.3m and the Netherlands, with $16m.­

Published in Dawn, September 23rd, 2022