The Foreign Direct Investment (FDI) numbers have jumped down 12 percent for the month of January when compared with the corresponding month of the year 2020 and remained $193 million. The financial year 2020’s January claimed $220 in FDIs. On the other hand, the first seven months of FY21 could pull only US$ 1,145 million which is about 27 percent less than the preceding year’s same period.
A brief report published by Arif Habib Limited, a leading securities company, quotes numbers from State Bank of Pakistan noting that in the past seven months of financial year 2021, China took the lead by channeling into Pakistan US$ 403 million as FDI. In the sector wise break up, the report noted the same period saw the power sector of Pakistan as the most attractive for drawing US$ 476 million in terms of direct investments.
Separately on the international front, Oil prices rose as the slow return of US crude output that was cut by frigid conditions raised concerns about supply just as demand is coming back from the depths of the coronavirus pandemic. Brent crude was up 76 cents, or 1.2%, at $61.67 a barrel by 0104 GMT, after gaining nearly 1% last week. U.S. oil rose 74 cents, or 1.3%, to $59.98 a barrel, having fallen 0.4% last week. Abnormally cold weather in Texas and the Plains states forced the shut down of up to 4 million barrels per day (bpd) of crude production along with 21 billion cubic feet of natural gas output, analysts estimated.
