According to the latest figures revealed by State Bank of Pakistan, the telecom wing has been the dominant force in fetching overseas direct investment into Pakistan during the first 11 months of financial term of 2013-14.
Pakistan generated a total sum of received of $1.36 billion in the first 11 months of FY-2013-14 which are a little more than $1.32 billion it amassed attracted during identical period of previous year.
The share of telecom industry in this entire investment is $406.4 million in the aforesaid time frame.
The SBP highlighted that telecom industry put $736.7 million in the first 11 months of the FY2013-14, whereas $330 million were taken back from the stock market by overseas cellular firms. Hence the net FDI of $406.4 million was produced in this duration.
This major contribution in the telecom investments was precisely because of the inclusion of 3G and 4G services in the telecom ecosystem in Pakistan.
In addition to this, IT managed to collect $9.9 million net FDI in the local revenues. The Software development wing yielded $13.4 million FDI in the said period whereas hardware peripherals development portfolio collected 0.8 million FDI into the country.
$4.3 million net FDI was collected by IT services sector in the country for the first 11 months of 2013-14 financial year.
It should also be noted that telecom industry had yielded $191 million FDI into the country for the first 11 months of past FY. Furthermore, the telecom firms took back $556.6 million for the identical period, hence, making the total FDI of –365 million dollars.
The telecom industry is anticipated to grab more FDI in the upcoming years because of the planned 3G and 4G networks integration.