KARACHI: The patience of foreign companies doing business and investment in Pakistan has paid off, as soon as the permission from the State Bank was granted, the commercial banks have cleared all the pending remittance of profits and dividends in the form of foreign currency for two years. Dispose of applications.
According to State Bank of Pakistan statistics, during the financial year ending on June 30, 2024, profits and dividends worth 2 billion 21 million dollars from foreign investments were transferred abroad.
According to the statistics, profit and dividend remittance increased 7 times in one year which is the highest value of foreign profit and dividend remittance in six years.
In the financial year 2023-24, foreign companies invested 1.5 billion dollars in Pakistan, but during the same period, the transfer of profits remained double the investment.
In June 2024, foreign companies repatriated $410 million in profits from Pakistan. The highest profit was repatriated by foreign companies of financial business in the form of 640 million dollars.
245 million dollars from power sector, 205 million dollars from communication sector, 174 million dollars from transport, 154 million dollars from food business and 135 million dollars from petroleum refining sector. went.
