KARACHI, Jan 22: Foreign direct investment (FDI) in Pakistan rose 67 per cent to $1.87 billion in the first half of 2006-07, led by inflows into the communications, energy, and banking and financial services sectors, official figures show.

Data released by State Bank of Pakistan on Monday showed that the FDI for the July-December period rose from $1.12 billion in the corresponding period last year.

Inflows from foreign portfolio investment during the six months were $627 million, up from $359 million in the corresponding period last year.

The United States led the list of foreign investors with direct investment of $468 million during the period, followed by the United Kingdom with $460 million and the United Arab Emirates with $251 million.

Inflows generated by privatisation amounted to $133m in the six month period, compared with $254m in the year-ago period.

The banking and financial services sector attracted the most foreign investment during the period, $517 million, followed by $495 million invested in the communications sector, and $315 million in oil and gas exploration.

Asia-focused Standard Chartered’s $487 million takeover of Union Bank Ltd. accounted for most of the funds attracted by the financial sector, though not all the money paid has come to Pakistan.—Reuters