Foreign private investment increases by 51%

KARACHI: In the first quarter of the fiscal year 2019-2020, foreign private investment has jumped by 51% to $564.8 million from $374 million in the same period of 2018.

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As per the data revealed, the most significant amount was chipped in by Norway, overcoming the largest investor in the country for the last three years, China.

Increasing by 1,600%, the FDI from Norway stands at $263.7 million. Earlier, the FDI recorded for the FY19 was $15.5 million. Of this, $253.2 million were invested in September.

Prime Minister Imran Khan recently visited China to speed up work on the projects under the China-Pakistan Economic Corridor (CPEC), as the inflows from China are recorded to be $103 million during July-September.

The telecommunication sector attracted the highest amount of FDI, which was recorded at $246.4 million during the quarter, as it grew by 389.6% from $54 million recorded in July-September FY19.

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