Repatriation of profit and dividend crosses $ 2Bn mark
Repatriation of profit and dividend by foreign investors crossed $ 2Bn mark during FY17, supported by improved economic activities. Capitalizing on the govt.'s liberal policy, foreign investors repatriated some $ 2.11Bn on account of profit and dividend during FY17 compared to $ 1.91Bn in FY16, depicting an increase of $ 197Mn or 10%.The repatriation on FPI declined by $ 24.5Mn to $ 376Mn.
Pakistan relying on foreign savings for investment: UNDP
United Nations Development Program (UNDP), in its latest issue of "Development Advocate Pakistan (DAP) on Financing for Development", has stated that Pakistan is relying on foreign savings to supplement its meagre national savings for investment purposes and therefore, the investment rates is almost one half of those in India and Bangladesh, thus constraining growth.
Govt, oil tanker owners fail to find way out
The government has decided to offer a major relaxation to oil transporters. Earlier, as the meeting between government officials and oil tanker owners fell through, the All Pakistan Oil Tankers Association (APOTA) announced that they would continue their strike until their demands were met by the government and refused to follow safety standards introduced in 2009.
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