Pakistan’s foreign direct investment surged 15.6% in the eight months of current fiscal year largely drawing strength from massive Chinese inflows under China-Pakistan Economic Corridor projects, data released by State Bank of Pakistan shows, APP reported. The FDI in the July-February period of FY18 increased to $1.941 billion from $1.678 billion a year earlier. In February alone, the FDI inflows were recorded at $340.8 million, compared to $146.7 million in the corresponding month of last fiscal year. During the period under review, the FDI inflows from China reached $1.281 billion, an increase of 139% over the same period of the last fiscal. On the other hand, investments from the United Kingdom rose to $205.5 million against $139.9 million last year, whereas inflows from Malaysian firms increased to $121.3 million from $16.7 million year ago. Most of the investment went into power, construction and financial sectors. Analysts expect FDI to be around $3-3.5 billion during the current fiscal year, reflecting surging Chinese investments under CPEC—a part of Beijing’s “One Belt, One Road” initiative to develop trade and transport infrastructure in Asia.
