Published on February 16th, 2010 | by Arsalan Mir3
Foreign Investment Declines in Telecommunication Sector
The State Bank of Pakistan has reported a decline or 34.4% in foreign investments during July-January period as compared to same period last year.
Dawn reports that fall is observed in telecom, financial, cement, oil and gas exploration and automobile sectors.
Excerpt below gives detail about the fall in telecommunication sector which is considered most attractive for investments.
The details provided by the State Bank show that massive fall in investment was noted in the telecommunications sector which received just $209 million during those seven months against $713 million, a decline of 70 per cent.
Under this head, information technology also suffered heavily as it faced disinvestment of $96 million compared to a net investment of $53.3 million during seven months of last year.
[Via Dawn News]