Repatriation of profit by the foreign investors is rapidly increasing, as during the first two months of the current fiscal year, 132 million dollars have been sent abroad, showing an upsurge of some 49.2 percent.
According to reports, foreign investors are taking full advantage of the government policy, allowing them to repatriate 100 percent of the profit earned in Pakistan to their home country.
After this massive upsurge, the overall repatriation of profit has reached 132.20 million dollars during July-August of the current fiscal, as previously it stood at 88.60 million dollars during the same period of the last fiscal, showing an increase of 43.60 million dollars.
The major share of repatriation witnessed in the financial sector, in which foreign investors have invested million of dollars during the last few years due to rising profit in this sector.
Investors have taken back some 40.8 million-dollar profit from the financial sector, which has gone up by 750 percent or 36 million dollars during July-August from 4.8 million dollars during the same period of the last fiscal. While the communication sector is the second leading sector, wherefrom some 32.3 million dollars' profit has been sent aboard. However, it is lower than 51 million dollars repatriated by foreign investors during the first two months of the last fiscal year.
Latest statistics, released by he State Bank Of Pakistan (SBP) show that foreign investors have sent 10.7 million dollars from food sector; 5.4 million dollars from tobacco and cigarettes; 3.4 million dollars from chemical sector; 7.7 million dollars from oil and gas exploration; 1.2 million dollars from pharmaceutical; and 12 million dollar from power sector during the first two months of the current fiscal year.
Besides, some 1.4 million dollars have been sent by trade sector; 9.1 million dollars from transport; 3.1 million dollars from storage facilities; 32.3 million dollars from communication sector; 2.2 million dollars from personal services and some two million dollars from other sectors have been repatriated during July-August.
It may be mentioned here that during the last fiscal, the repatriation of profit showed an increased of 299.8 million dollars or 59 percent to 804.2 million dollars as compared to 504 million dollar was sent during the 2006 fiscal year 2006.