China boosts Pakistan with $50.4 million FDI 

ISLAMABAD: The FDI from China into Pakistan has seen a significant increase, amounting to a total of $50.4 million in the initial two months of FY 2023-24.

Notably, Pakistan received an additional $32.4 million in FDI from China during August, as per the latest figures issued by the State Bank of Pakistan (SBP), according to Gwadar Pro.

Compared to the first two months of FY 2022-23, the current financial year has experienced a substantial increase in FDI from China, amounting to approximately 33.69%.

In July and August of FY 2022-23, the total FDI from China was recorded at $ 37.7 million.

Similarly, Pakistan has also attracted $16.1 million in FDI from China’s Hong Kong, resulting in a total investment of $33 million in the first two months of FY 2023-24.

Notably, there has been a substantial surge in investment from Hong Kong during July-August 2024, compared to the same period when FDI from Hong Kong was a mere $0.8 million in the previous financial year.

As per data from the SBP, Pakistan garnered a total of $ 150.4 million in FDI from various partner countries across the globe in August.

Out of this, $32.4 million originated from China, and an additional $16.1 million was contributed by Hong Kong.

In July-August FY 2023-24, as per the provisional list provided by the SBP, Pakistan received $260.4 million, marking a substantial increase of 76% compared to the $176.4 million received during the corresponding period in the previous financial year. –INP