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The dynamic economic and investment policies adopted by the government of President General Pervez Musharraf through then Finance Minister now Prime Minister Mr. Shaukat Aziz continue to result in record levels of foreign investment. This was stated by Mr. Zahid Hamid, Federal Minister for Privatisation & Investment in a press release issued here today.
He said that total foreign investment for the first 9 months of the financial year 2006-2007 i.e. from 1st: July 2006 to 31st March 2007 was $ 5.56 billion, 67.5% more than the amount ($ 3.32 billion) during the same period last year. FDI of $ 3.86 billion was 72% higher than the amount ($ 2.24 billion) in the same period last year. Net portfolio investment of $ 1.70 billion including OGDC GDR receipts of $ 738 million was 58% higher than the amount ($ 1.08 billion) last year.
Out of the total FDI of $ 3.86 billion, $ 708 million was from China, $ 694 million from UK and $ 636 million from USA. In all these cases this is the highest level of investment ever.
37% of the FDI, or $ 1.41 billion, has gone into the Communications sector. The Financial Business sector has received $ 696 million or 18% and the Oil and Gas Exploration sector $ 420 million or 11%.
He further stated that total foreign investment during 2005-06 was $ 3.87 billion, which at the time was the highest in our history. However, the huge increases during the current financial year show that foreign investor sentiment has been very positive and foreign investment will clearly set new records in 2006-07.