FDI up 15% on CPEC inflows in July-March

KARACHI, April 19: Foreign direct investment (FDI) into the country has registered 15 percent growth during the first nine months of the current fiscal year, owing to the inflows for projects under the China-Pakistan Economic Corridor (CPEC).
According to data released by the State Bank of Pakistan (SBP) on Monday, the country received $975.4 million as FDI during July-March 2015/16 as compared with $832.2 million in the corresponding period of the last fiscal year.
The FDI from China grew by 167 percent to $516 million during the period under review as compared with $193.3 million in the corresponding period of the last fiscal year.
China has launched $46 billion worth infrastructure development plan in Pakistan. The government has estimated $2.1 billion FDI disbursement from China in 2015/16, and power and construction sectors have been estimated as the prime recipients.
A day earlier, Ahsan Iqbal, Federal Minister Planning Development and Reform, said the first phase of the CPEC would be completed by the year 2018. The minister said the production of 10,000 megawatts of energy under the CPEC would help overcome the energy crisis by 2018 as well as upgrade the existing road network of the country.
The SBP in its second quarterly FY 2015/16 review on Pakistan Economy expected more FDI in power and infrastructure from China.
The data of foreign investment showed that inflows from China offset the fall of inflows from other countries. – Agencies