Foreign Direct Investment (FDI) inflow in the power sector has declined by 61 percent and in oil and gas exploration by 50 percent during the first five months of the current fiscal year compared to the same period of last fiscal year as per data presented to the Economic Co-ordination Committee (ECC) of the cabinet.
Sources revealed that FDI sector wise inflow data for five months of the current fiscal year in comparison with the same period of last fiscal year reveals that FDI in the power sector declined to $159.9 million from $410.8 million last fiscal year while outflow increased to $17.4 million from $16.4 million last year. The net FDI in the power sector was noted at $142.5 million during the first five months of the current fiscal year as compared $394.4 million for the same period of last fiscal year. There was a 48 percent decline in FDI in financial business, 62 percent in textile sector and 67 percent in communication sector.
Data noted that FDI in oil and gas sector declined to $61.9 million from $126.3 million, financial business to $77.4 million from $149.1 million, textile sector to $7.7 million from $20.8 million.
The FDI in the communication sector declined to $53 million during the first five months of the current fiscal year to $162 million in the comparable period last year. Additionally, the net FDI in the sector was negative $10 million because of higher outflow of $63.3 million. The net FDI in the communication sector during last fiscal year was (+) $73 million.
In chemical sector, FDI declined to $18.5 million during July-November 2016-17 from $35.5 million in July-November 2015-16 while in transport equipment (automobile), foreign direct investment contracted to $14.7 million from $19.3 million the year before, in trade to $13.4 million from $15.5 million the year before, in transport to $12 million from $42.3 million the year before.
However, there was some increase in FDI in food, electronics and personal services - $15.6 million during July-November 2016-17 from $13.7 million July-November 2015-16 while in personal services FDI registered an increase to $48.1 million in the first five months of the current fiscal year from $18.6 million last year, and in electronics there was a considerable rise to $142 million this year from $29.9 million last year.
The FDI in others sector also witnessed a decline to $53.6 million during the first five months of the current fiscal year compared to $125.1 million for the same period a year ago.
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