ISLAMABAD, Jan. 25 (Xinhua) -- The outflow of profits and dividends on foreign investment in Pakistan dropped 75.6 percent during the first half of the current fiscal year starting from July 2022, the State Bank of Pakistan has said.
According to data released by the bank, the outflow of the profit dropped to 217.3 million U.S. dollars as compared with the same period in the last fiscal year, mainly due to the country's dropping foreign reserves and government's selective permission for repatriations of profits.
The data showed that the profit repatriation on foreign direct investment dropped to 182.5 million dollars in July-December 2022 from 794 million dollars recorded during July-December 2021.
The outflow of reimbursement against portfolio investment fell to 34.8 million dollars as compared with 97.2 million dollars.
According to local media reports, Pakistan's external debt servicing obligation for the current fiscal year is 23 billion dollars, of which 10 billion dollars has been settled while 13 billion dollars is yet to be funded. ■