The foreign investors repatriated 763 million dollars abroad on account of profit and dividend in fiscal year 2008-09, despite low economic activity in Pakistan and the global economic recession. However, the repatriated amount during the last fiscal year was 17 percent lower than repatriated in fiscal year 2007-08.
Overall, repatriation of profit and dividend stood at 763.8 million dollars in fiscal year 2009 against 921.4 million dollars of previous fiscal year, depicting a decrease of 157.6 million dollars. The State Bank of Pakistan on Saturday stated that the country had received 3.719 billion dollars foreign direct investment (FDI) in FY09 as compared to 5.4 billion dollars in FY08.
Foreign investors repatriated 593.8 million dollars on account of return on FDI in fiscal year 2009 against 673.3 million dollars in fiscal year 2008, depicting a decline of 79 million dollars, or 12 percent. During this period return on foreign private investment decreased by 78 million dollars, or 31 percent, to 170 million dollars from 248 million dollars.
Only 9 sectors out of some 36 sectors showed increase in the repatriation of profit, while remaining sectors depicted downward trend. Leather and leather products, machinery, electrical and basic metals were three leading sectors wherefrom not a penny was sent abroad by foreign investors during last fiscal year.
Major repatriation was registered from the power sector, wherefrom foreign investors repatriated 184.4 million dollars in fiscal year 2009 against 169.6 million dollars in fiscal year 2008, depicting an increase of 9 percent.
Financial services was second largest sector wherefrom foreign investors sent abroad 79 million dollars. Repatriation from trade surged by 122 percent to 73.1 million dollars from 32.8 million dollars, while petroleum refining repatriation stood at 77.3 million dollars with an increase of 40 percent.