KARACHI: Net foreign direct investment into Pakistan declined 9.7 per cent to $504.4 million in the eight months of the fiscal year that ended in February compared to a year earlier, according to central bank data.

Between last July and February, there was an inflow of $1.405 billion and an outflow was $900.7 million, the central bank said.

In the year earlier period, there was an inflow $1.424 billion and outflow of $865.8 million.

During February, net foreign direct investment fell to $13.8 million from $35.4 million a year earlier.

Earlier this month, the country director of the Asian Development Bank, Werner Liepach, said Pakistan has reached a critical balance of payments situation and will need another package from the International Monetary Fund before the end of the year to avert a crisis.