Pakistan’s IT Sector Received 35.1 Million Dollars Foreign Investment in April-July 2020
Pakistan’s information technology sector received $ 35.1 million in foreign direct investment from July to April 2020, compared to $ 22.9 million in the corresponding period last fiscal year, an increase of approximately $ 12.2 million.
According to the State Bank of Pakistan (SBP), inflows of $ 35.1 million and outflows of $ 2.5 million were registered in the information technology sector from July to April (2019 to 20). Net direct investment remained at $ 32.6 million during this period.
The entire communications sector (telecommunications, information technology, and postal and courier services) recorded net direct investment of $ 510.3 million, compared to minus $ 144.4 million in the same period last year. Inflows remained at $ 635.2 million from July to April 2019-20, while outflows remained at $ 124.9 million.
Net direct investment in the telecommunications sector remained $ 477.7 million, with inflows of $ 600 million and outflows of $ 122.4 million from July to April 2019-20.
Net direct investment in software development was $ 13.2 million, with inflows of $ 13.6 million and outflows of $ 0.5 million.
