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Foreign investment halves to $1.4bn

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As the government embarks on an arduous journey to fix the economic imbalances with the help of International Monetary Fund (IMF) bailout, the foreign direct investment (FDI) halved to $1.376 billion during the first 10 months of this fiscal year from $2.489bn in the corresponding period last year.

The FDI inflows fell to $101.8 million in April, down 42.6 per cent compared to $177.5m in March and plunged by 55.2pc year-on-year compared to $227.5m in April 2018.

Inflows from China, leading investor in the country, declined by 72 per cent to $429m during the July-April period compared to $1.731bn in the same period last fiscal year as major infrastructure-related projects under the China-Pakistan Economic Corridor near completion.

However, the United Kingdom and the United States with $156m and $76m respectively also shied away from investing in the country amid record fall in the rupee’s value and economic slowdown.ARTICLE CONTINUES AFTER AD

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Sobia Umair

Sobia Umair

Housewife and mom blogger

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