KARACHI: Foreign direct investment in the country increased by 68.3 percent to $ 1.34 billion in the first quarter of this fiscal, compared to $ 796.8 million in the same period last year.
According to the report, most of these investments were made by China and Norway in the fields of telecommunications, energy and electrical machinery, and State Bank data reveals surprisingly Malta's involvement in the list of investors. Invested $ 111.1 million from July to December.
One of the reasons for the increase in foreign direct investment is the money deposited by telecommunications companies Warid, Telenor and Zong for renewal of licenses.
Speaking of different sectors, the telecommunications sector in the first half of FY 2020 had $ 432 million of foreign direct investment, compared to $ 126.3 million in the same period last year.
Along with telecom, the energy sector saw an increase of 41.6 percent to $ 289.7 million, with more than half of that $ 153 million being invested on coal-fired power plants.
However, foreign direct investment in the financial business declined from July to December to $ 162.1 million, compared to $ 202.2 million in the same period last year.