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.
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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