The State Bank of Pakistan reported that intromit of profit and dividends rose 8.35 per cent to $1.025 billion during the first seven months of the current fiscal year compared to $946m in the same period last year, on Friday. Hence the Profit Outflows exceeded 1bn.
The Profit outflows comprised of repatriation profits on foreign direct investment (FDI) and foreign portfolio investment (FPI).
Moreover, in the same period of last year, the FPI highlighted a profit of $64m which was sent abroad compared to $104m the food sector noted the highest outflow of profits at $219.5m during the July-January period compared to $53m in the same period last year.
Alternatively, in accordance to the SBP figures, Profit Outflows from financial businesses stood at $125.5m while from the communication sector it was $119m during the seven months. From the tobacco and cigarettes sectors, the outflow increased to $83m compared to $33m.