KARACHI: The country’s trade deficit soared to $5.8 billion in the first quarter of the current fiscal year, according to data shared by the State Bank of Pakistan (SBP).
The central bank said foreign direct investment (FDI) declined by 24 per cent to $415.7 million from July to September as compared to last year’s corresponding period.
Read More: Ministry of Finance shares details of foreign loans in Senate
The foreign investment was recorded at $189 million in September 2020. The power sector received foreign direct investment (FDI) worth $113.3 million in the first quarter of the fiscal year 2020-21 while financial business $102.5 million.
Earlier, on October 15, the State Bank of Pakistan (SBP) had announced that the foreign reserves in the country witnessed a decline of United States Dollar (USD) 356 million in the week ending on October 09.
Read More: Weekly inflation up 0.45 pc as food prices continue to rise
The total liquid foreign reserves held by the country currently stood at US$ 19,015.5 million on 09 October.
Giving a break-up of the foreign reserves, the central bank said that it currently holds the reserves of upto US$ 11,798.4 million as compared to the US$ 7,217.1 million forex reserves held by the commercial banks.
The post Country’s foreign direct investment falls by 24pc appeared first on ARY NEWS.
from Business – ARY NEWS https://ift.tt/2H1wZnk
via Google Class
