Finance, telecom help fetch $5.1bn in FDI: Dawn

By Shahid Iqbal


KARACHI, July 26: Increased attraction for financial business, telecommunications and oil and gas exploration collectively pushed foreign direct investment even higher than last year despite continued political uncertainties and poor economic performance.

The State Bank of Pakistan reported that while the telecommunications still maintained its attraction for the FDI, the financial business proved more attractive and invited more foreign investment than the telecom.

Researchers said for the first time financial business attracted more FDI than telecom sector during the last five years.

Telecom was still the second highest attractive sector despite decline in volume of investment in 2007-08 compared to last year.

Total FDI which crossed $5.152 billion compared to $5.139 billion of last year, a growth of 0.3 per cent, surprised many analysts and economists, painting a bleak picture for the economy.

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