Skip Navigation LinksHome > Info Center > View News
Highlights
Image result for blinking newNotification on collection of data on Incentives offered by GoP             Image result for blinking newOnline Work Visa Application Module by BoI        Image result for blinking new Summary of various Incentives offered by GoP                                Image result for blinking new Revision of processing Fee on various services being offered to the Foreign Companies by BoI                    Image result for blinking newAutomotive Policy 2016-21                        Image result for blinking newVirtual One Stop Shop (VOSS)            Image result for blinking new   Investment Opportunities in Forestry Sector South Punjab                Net FDI  for the period of 2017-18 (July-Nov) is US$1.14 Billion               Exports 2017-18 (July-Oct) are US$7.66 Billion                 Imports 2017-18 (July-Sep) are US$17.4 Billion               

Foreign firms repatriate $2.109bln in FY17


7/26/2017

KARACHI: Repatriation of profits and dividends on foreign investment increased to $2.109 billion during the last fiscal year, up 10.30 percent from a year earlier, the central bank’s data showed on Tuesday.  

Foreign companies repatriated $1.912 billion worth of profits in the previous year.   The surge in corporate earnings aided by an environment conducive to operate business enabled the multinational firms to transfer a decent amount of profits back home during FY17.  
 
The repatriation of profits by foreign-invested businesses stood at $224.5 million in June 2017.  The State Bank’s data further showed that the capital outflows were lower than the inflow of foreign direct investment in FY17.
 
The country drew $2.410 billion in FDI during last year. The SBP’s figures revealed that a majority of the profit outflows went to food, chemicals, automobiles, oil and gas explorations, and communications sectors.
 
However, the repatriation of financial business attracted less repatriated earnings during the period under review.  The food sector saw a massive 104.4 percent increase in repatriated profits, sending $271.3 million home in FY17, compared with $132.7 million a year ago.
 
The communications businesses sent home $180.8 million against $1779.9 million from the country in FY16. The sent back profits of energy firms were $139.9 million, compared with $135.6 million during the previous year.
 
Analysts said though a rise in corporate repatriation of the multinationals indicated such firms continued to make significant profits, their level of investment in the country remained lower.  The country is in dire need of attracting more foreign investment to maintain external stability as it has been facing decline in exports and remittances.
 
Source: The News