World Economy

Pakistan FDI Down 58%

Pakistan FDI Down 58%Pakistan FDI Down 58%

Pakistan’s domestic investment is in a grim state, said a daily on Tuesday, noting that the country’s economy is “a long way away from recovery”, AAP reported. An editorial in the News International said that “around 96% of bank investments are in government bonds, which contribute nothing productive to the economy”. It said that a day after announcing that foreign direct investment in 2014-15 had plummeted by 58% to $709 million, the State Bank of Pakistan in its third-quarter report ended up painting a positive picture of the country’s economic situation. The SBP claim was also contradicted by the Pakistan Bureau of Statistics, which reported last week that Pakistan’s exports were at a four-year low of $23.9 billion,” said the daily.