Repatriated Profits from Pakistan Rise
Repatriation of profits and dividends from Pakistan rose by 12.2 percent during the first ten months of the current fiscal year. Foreign direct investors sent $735m abroad from July 2007 to April 2008, up from $654.9 million repatriated in the corresponding period last year, according to the figures released by the State Bank of Pakistan. It is this policy of the Musharraf-Aziz era permitting repatriation of 100% of the profits that spurred a significant increase in foreign direct investment over the last several years. The investments in power, communication, oil and gas have led the pack in profits repatriated recently. Thermal power generation companies sent $151.27 million, the most by any sector of economy. This represents 27.9 percent increase over $118.32 million sent last year. It was followed by the telecommunications sector, which sent $92.06 million during July-April period. It is a drop of 14.3 percent from $107.42 million remitted last year. The oil and gas exploration com...