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Foreign investment in Pakistan down 30 pct July-Oct
Reuters - 59 minutes ago
KARACHI, Nov 18 - Net foreign investment inflows to Pakistan fell almost 30 percent to $1.14 billion in the first four months of fiscal year of 2008/09 , according to the State Bank of Pakistan.
Foreign private investment fell 30.17 percent to $1.16 billion in the July to October period, compared with $1.66 billion in the corresponding period, the central bank said on its Website.
Out of the total foreign investment inflow, foreign direct investment was worth $1.32 billion, up 0.15 percent from the year-ago period.
There was a $175.48 million outflow of foreign portfolio investment, compared with an inflow of $313.95 million in the year-ago period.
There have been outflows from the stock market due to political uncertainty and economic and security concerns.
Trading has dried up due to an artificial floor authorities placed under the benchmark index at the end of August to protect a Karachi market that has dropped 35 percent so far this year.
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