October 18, 2014 8:47 PM

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FDI in Pakistan slips by 26 pc in Q2

Foreign investors shied away from investing in Pakistan as Foreign Direct Investment fell by 26 per cent in the quarter of July to September this fiscal year, official figures showed. According to figures available with the Karachi Chamber of Commerce, FDI fell by 26 per cent in the second quarter, compared to the same period last year. Figures reveal that Pakistan received just 169 million dollars in FDI, which shows that no serious investor turned towards the country.In the first quarter of the current fiscal year, even the foreign investment from friendly counties, like Saudi Arabia and China, was in the negative.They withdrew 3.9 million dollars and 14.6 million dollars, respectively, during the quarter.The highest amount of 43 million dollars was invested by Hong Kong, more than 25 per cent of the total investment of 169 million dollars. Pakistan which is facing pressure of external debt serving also saw the dollar reach just below the level of Rs 103 yesterday at close of the business week.

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