Foreign investment dips 12pc in October

The poor health of foreign direct investment (FDI) could not improve in October but a meagre year-on-year growth of seven per cent was noted in the July-October period of FY24. The State Bank of Pakistan (SBP) on Monday issued the latest data on foreign inflows showing no encouraging signs for the country. The total foreign inves­tment dipped by over 12pc to $122.5 million in October against $140m in the same month last year. However, the inflows during July-October were $524.7m compared to $489.8m in the same period last year, registering an increase of 7.1pc. The PMLN-led coalition government had utterly failed to woo foreign investors during its tenure while the caretaker setup has been struggling to improve the situation. However, inflows remained low and limited to a few countries. Analysts and researchers believe the improvement could be seen after the general elections since the political uncertainty is at its peak.