ISLAMABAD: The overall communications sector - telecommunication, information technology and postal & courier services have registered US $ 55.7 million net Foreign Direct Investment (FDI) with US $ 155.8 million inflow and US $ 100.1 million outflow.
The first eleven months of 2015-16 has witnessed US $ 15.84 million decline FDI in Information Technology (IT) sector.
Official statistics have revealed on Monday that overall FDI posted an increase of 10 percent during first eleven months of this fiscal year and the country has fetched an overall FDI amounting to US $ 1.084 billion during July-May as compared to US $ 980 million in same period of last fiscal year, depicting an increase of 10.5 percent or US $ 103.3 million.
The data showed that US $ 13.5 million inflow and US $ 29.3 million outflow was registered in IT sector during July-May (2015- 16). Net FDI in software development remained at US $ 4.5 million and in hardware development it measured at US $ 1.3 million.
On other hand, FDI inflows for IT services remained at US $ 7.7 million and outflow at US $ 29.3 million.
During the period under review, month on month basis, FDI registered an increase of 292 per cent to US $ 64.3 million in May 2016 as compared to US $ 16.4 million in May 2015.
During May 2016, FDI inflows were US $ 97 million as against outflow of US $ 32.6 million. Similarly, net foreign investment in Pakistan, comprising foreign direct investment, portfolio investment and foreign public investment reached US $ 683 million by May 2016.
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