Telecom Sector Received $ 21m as FDI During Q1 of the ongoing financial year. It was US $ 6.9 million in the corresponding period of previous year.
Telecom Sector Received $ 21m as FDI During Q1
Information Technology sector also raised US $ 3.3 million FDI in July-September 2016. The IT sector foreign direct investment was 0.2 million in the same period of last fiscal year.
According to the Statistics of State Bank of Pakistan (SBP), entire communication sector encompassing Telecommunication, Information Technology and postal & courier facilities) recorded US $ 24.2 million net FDI with US $ 40.9 million influx and US $ 16.7 million expenditures.
Whereas Telecommunication sector showed US $ 37.6 million inflow, US $ 16.6 million outflows and US $ 21 million net FDI during the period in evaluation. However, net FDI in software development stayed at the US $ 1.5 million through July-September.