Karachi June 27 2024: In May 2024, Pakistan allowed foreign investors to repatriate profits amounting to USD 918.1 million, setting a new record for any single month in the country’s history, as reported by the State Bank of Pakistan.
This brings the total profit repatriation to USD 1.8 billion for the first eleven months of the fiscal year, which begins in July.
“Almost all payments will be cleared by June this year,” stated the Governor of the State Bank earlier this month during a discussion with analysts following the monetary policy announcement.
In May 2024, the current account posted a deficit after recording surpluses for three consecutive months from February to April.
“The resultant lower current account deficit, along with improved FDI and the disbursement of the SBA tranche in April, has facilitated ongoing large debt repayments and supported the SBP’s FX reserves,” stated the State Bank of Pakistan.
