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Profit outflows from Pakistan drop by 80.4 pct in July-February

ISLAMABAD
2023-03-28 15:27

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ISLAMABAD, March 28 (Xinhua) -- The repatriation of profits from Pakistan by foreign companies dropped by 80.4 percent during the first eight months of the current fiscal year starting from July 2022 to June 2023, according to the data presented by the State Bank of Pakistan (SBP) on Tuesday.

The SBP said that the foreign companies remitted 225.1 million U.S. dollars in profits and dividends during the period from July 2022 to February 2023 compared to an outflow of 1,146.4 million U.S. dollars in the same period of the last fiscal year.

The SBP data showed that the profit payments on the Foreign Direct Investments (FDI) were 188.1 million U.S. dollars from July 2022 to February 2023 compared to 1,037.8 million during the said period in the last fiscal year.

The profit outflows on the Foreign Portfolio Investment (FPI) dropped to 36.9 million U.S. dollars in the eight months as compared to 108.6 million U.S. dollars during the same period in the last fiscal year, said the SBP data.

While the profit outflows in February were just 4.9 million U.S. dollars against 132.9 million U.S. dollars in the same month last year.
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