ISLAMABAD (Eshfak Mughal) :- The repatriated profit and dividend on foreign investment in Pakistan increased by six times high in country’s thermal sector during the first eleven months of the current fiscal year as compared to the same period of the last fiscal year mainly due to high earning.
Multinational companies working in power sector repatriated $199 million profit and dividend during the 11 months of the current fiscal year as compared to $45 million during the same period of the last fiscal year.
Out of total repatriated amounted by power sector, the companies working in thermal sector in the country sent $179 million during the first 11 months of the current fiscal year as compared to $31 million during the same period of the last fiscal year. The repatriated amount of the hydel sector was increased from $7.5 million to $8.5 million, however, the repatriated profit of coal sector decreased from 6.8 million to $2.5 million.
According to the State Bank of Pakistan, the repatriated profit and dividend has been out flown was recorded $1.6 billion during the 11 months of current fiscal year as compared to Rs$1.4 billion during the same period of the last fiscal year.
The increase in the repatriation of profits and dividends is attributed to higher earnings of foreign firms.
The repatriated profit and dividend of food sector was reduced by $78 million from $230 million to $152 million, tobacco and cigarettes by $40 million from $123 million to $78 million, transport by $36 million from $131 million to $95 million, telecommunication by $21 million from $165 million to $144 million and financial business by $49 million from $318 million to $269 million during the period.
The repatriated earnings are increasing and still higher than the foreign direct investment made by the multinational firms in the country.