Profit outflow crosses $1bn

Published February 27, 2021
Repatriation of profit and dividends rose 8.35 per cent to $1.025 billion during the first seven months of the current fiscal year compared to $946m in the same period last year. — File photo
Repatriation of profit and dividends rose 8.35 per cent to $1.025 billion during the first seven months of the current fiscal year compared to $946m in the same period last year. — File photo

KARACHI: Repatriation of profit and dividends rose 8.35 per cent to $1.025 billion during the first seven months of the current fiscal year compared to $946m in the same period last year, the State Bank of Pakistan (SBP) reported on Friday.

The outflow included repatriation of profits on foreign direct investment (FDI) and foreign portfolio investment (FPI).

On FPI a profit of $64m was sent abroad compared to $104m in the same period of last year.

The food sector noted the highest outflow of profits at $219.5m during the July-January period compared to $53m in the same period last year.

The SBP’s figures showed that profit outflows from financial businesses stood at $125.5m while from communication sector it was $119m during the seven-month period. From tobacco and cigarettes sectors, the outflow increased to $83m compared to $33m.

Published in Dawn, February 27th, 2021

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

PAKISTAN has now registered 50 polio cases this year. We all saw it coming and yet there was nothing we could do to...
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...
Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...