Business

Telecom sector receives $ 21 mln FDI in first quarter

Latest Update: October 24, 2016 | 173 Views
telecom

ISLAMABAD: The telecom sector has received US $ 21 million as Foreign Direct Investment (FDI) in first quarter of current fiscal year as against US $ 6.9 million in corresponding period of last year.

Information Technology sector fetched US $ 3.3 million FDI in July-September 2016 as compared to 0.2 million in corresponding period of last fiscal year.

Statistics of State Bank of Pakistan (SBP) on Sunday showed overall communications sector comprising telecommunication, Information Technology and postal & courier services) registered US $ 24.2 million net FDI with US $ 40.9 million inflow and US $ 16.7 million outflow.

Telecommunication sector registered US $ 37.6 million inflow, US $ 16.6 million outflow and US $ 21 million net FDI during period under review.

Net FDI in software development remained at US $ 1.5 million during July-September.

APP