Telecom Sector Received $ 21m as FDI During Q1

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.

Also Read: Mobile Import Drops by 12.03% During 2016-17 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.

Also Read: GoP Receives Rs 124 Billion Tax from Telecom Sector During FY2015-16

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