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Pakistan foreign direct investment has fallen by 35% in past nine months

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Cash-strapped Pakistan’s foreign direct investment (FDI) has fallen by 35 per cent at the end of the third quarter of the current fiscal year, reflecting no improvement in the situation for investors, according to the State Bank of Pakistan.

As per the data provided by the central bank, the FDI fell by 35.1 per cent to USD 1.395 billion during July-March compared to USD 2.15 billion in the same period of last fiscal.

The data says that FDI inflow in March was just USD 167.6 million compared to USD 278.7 million in the same month of last year — a decline of 40 per cent.

The FDI had dropped by 30 per cent during the first eight months of the current fiscal, and due to the 40 per cent decline recorded last month, it has now fallen by 35 per cent after nine months, it said.

The FDI has kept on declining in the fiscal year and has reflected no improvement in the situation for investors, the State Bank of Pakistan said.

However, the position on the external front is much better as the current account of eight months of FY21 is surplus with USD 881 million and the SBP reserves have reached a four-year high, the bank said.

The exports have also improved as more export orders are in line due to the serious pandemic situation in India and Bangladesh, it said, adding that this has helped the Pakistani rupee gain ground against the US dollar and has appreciated by 9 per cent since August 2020.

A financial expert said the FDI fall was not surprising given the COVID-19 situation affecting the global market and there is nothing new to attract foreign investors in Pakistan.

He said the main inflow of the FDI is still coming from the China-Pakistan Economic Corridor projects and the data shows that inflow from China during the nine months of this fiscal was USD 650.8 million, constituting 46 per cent of the total inflows so far.

China has been the largest investor in Pakistan for several years, but the inflow declined this year. In the same period of last fiscal, the inflow from China was USD 859.3 million; the decline this year was 24 per cent.

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Smartphone manufacturer Realme reduce price rates of its mobile phones:View reduced rates

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Realme 8 has got a Rs. 500 discount in India on purchases through Flipkart, the company has announced. It will now be available at a starting price of Rs. 14,499 instead of its original price of Rs. 14,999. The phone was launched in March this year alongside the Realme 8 Pro. It comes with a triple rear camera setup and a hole-punch cut out for the selfie camera. Realme 8 is powered by the MediaTek Helio G95 SoC and comes with a 5,000mAh battery. The Realme 8 with discounted price is listed on the Realme India site as well.

Realme 8 price cut in India

Realme has announced through a press release that the Realme 8 now starts at Rs. 14,499 for the 4GB RAM + 128GB variant, a Rs. 500 discount from its launch price. The 6GB + 128GB model can be purchased for Rs. 15,499 instead of Rs. 15,999 and the 8GB + 128GB model can be purchased for Rs. 16,499 instead of Rs. 16,999. Realme 8 is offered in Cyber Black and Cyber Silver colours, and the new pricing has been updated on Flipkart and Realme India website. It should be noted that as per the Realme India website, the discount is valid till May 14 only. We’ve reached out for clarity.

Shipping for the phone will depend on the region the phone is being shipped, based on the latest government guidelines with regards to the COVID-19 pandemic.

The dual-SIM (Nano) Realme 8 runs Android 11–based Realme UI 2.0. It features a 6.4-inch full-HD+ (1,080×2,400 pixels) Super AMOLED display with 90.8 percent screen to body ratio, 1,000 nits peak brightness, and a 180Hz touch sampling rate. It is powered by the octa-core MediaTek Helio G95 SoC and Mali-G76 MC4 GPU. The phone comes with up to 8GB LPDDR4x RAM and up to 128GB of UFS 2.1 storage that is expandable via a dedicated microSD card slot.

In terms of optics, the Realme 8 comes with a 64-megapixel primary sensor with an f/1.79 lens, an 8-megapixel sensor with an ultra-wide-angle f/2.25 lens and 119-degree field-of-view (FoV), a 2-megapixel macro shooter with f/2.4 aperture, and a 2-megapixel black and white sensor with an f/2.4 aperture. On the front, there is a 16-megapixel Sony IMX471 sensor with an f/2.45 aperture lens housed in a hole-punch cutout.

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