Profit repatriation rises to $1.6bn.

KARACHI -- The total profits and dividend outflows increased to $1.6 billion during the 11 months of the current fiscal year (11MFY22), reflecting that foreign investment in Pakistan yields good profits despite political and economic uncertainties.

The latest data issued by the State Bank of Pakistan (SBP) on Monday shows the high economic growth of about 5.87 per cent in FY22 (estimated) provided good profits to foreign investors. Last year, during the same period, the total profit outflow was $1.496bn. It also indicated a good profit due to higher economic growth of 5.6pc in FY21.

Foreign direct investment inflows into the country totalled $1.6 billion in FY22, a 5pc decrease from the previous fiscal year. The profit outflow was the same at $1.6bn in the same period.

The details further shoAwAed that profits and dividends only on foreign direct investment (FDI) during July-May FY22 were $1,447.2 million as against $1,382m in the same period of last year.

The highest outflow during this period was from financial businesses (banks), which was around $269.3m, but was lower than last year's outflow of $318m. Banks have been making huge profits for the last several years, which attracted the new government's attention for a tax increase along with the super tax.

However, the biggest chaAnAge was noted in the power sector since the profit outflow jumped to $199m during this period compared to $45.2m in the same period of last year.

The real profit maker was the thermal power sector, which remitted $187.8m out of the country during this...