The State Bank of Pakistan (SBP) has reported a massive decline of net foreign investment for local industries, including cement and construction, between July 2018-May 2019. According to a central bank report, total foreign direct investment (FDI) into the country fell by 49.2 per cent YoY during the first 11 months of FY18-19.
A breakdown of SBP data shows that the net total FDI in the cement and construction sectors decreased 36.4 per cent YoY in the 11-month period. Out of the country’s total, Pakistan’s construction and cement industry reported US$437.6m of FDI, compared to US$688.5m in the year-ago period.
The construction industry received net FDI of US$393.1m and cement US$44.5m, representing a fall of 38 per cent and 17.9 per cent, respectively.