Waheed Mahmood
The central bank on Friday said that net foreign investment comprising foreign direct investment (FDI) and portfolio investment had continuously weakened and net foreign investment registered a decline of $181 million during the first three months (July-Sep) of fiscal year 2010-11. With current decline, net foreign investment decreased to $455. 1 million during the first quarter of the current fiscal year as compared to $636. 1 million in the same period of last fiscal year 2009. According to statistics, FDI posted a decrease of 9. 5 percent, while major decline was in portfolio investment, which stood at 67. 5 percent during the period. Portfolio investment--mainly done in stock market--stood at $67. 7 million during July-September of fiscal year 2010-11 as against some $208. 2 million in corresponding period of last fiscal year, depicting a decrease of $140. 7 million. FDI posted a decline of $40. 5 million to $387. 4 million in first quarter of current fiscal year as compared to $427. 9 million in same period of last fiscal year. However, there were some indications of improvement in FDI, as during the first two months (July-Aug) decline in FDI was some 40 percent, while currently to has declined to 9. 5 percent. Economists say that despite the uncertainty, foreign investment inflows are higher than expectations and $387. 4 million foreign direct investment during the first three months is also an encouraging figure. Some improvement in FDI is a positive signal and it means that still foreign investors are interested to invest in Pakistan , they said. Meanwhile, including privatisation proceeds total private investment showed a decline of 25. 1 percent to $506. 9 million during July-September of current fiscal year as previously it stood at $676. 5 million.
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