Foreign investors transfer $1.046b abroad as profit in nine months

By: News Desk      Published: 04:24 PM, 1 May, 2020
Foreign investors transfer $1.046b abroad as profit in nine months

The foreigner investors in Pakistan sent a total of $1.046 billion abroad as profit during the first nine months of the current financial year, 24NewsHD TV channel reported on Friday.

Quoting the State Bank of Pakistan (SBP), it said most of the money was related to those involved in oil and gas exploration.

During this period, an amount of $894.70 million was earned as a profit and transferred out of the country by those foreign investors who are associated with the industrial sector.

Meanwhile, $109.9 million were sent abroad by the investors making profit from the Pakistan Stock Exchange.

The total amount transferred abroad by the oil and gas exploration companies, which fall under the category of industrial sector, was $203.5 million.

The details of some other sectors are: foreign banks and financial institutions $162.3 million and transport sector $140.02 million.

The SBP report also provides the details about the countries where these investors are based.

As such, the British investors transferred $242.3 million followed by Americans $149.6 million, Hong Kong $119.4 million and Chinese $94.8 million.