ISLAMABAD: Foreign investors repatriated $ 2.215 billion on account of profit and dividend during fiscal year 2023-2024, State Bank of Pakistan reported. Repatriation of profit and dividend by foreign investors posted an exponential growth of 569 percent during FY24, as compared to $ 331 million in FY23, an increase of $ 1.884 billion.

Experts said surge in repatriation of profit and dividend has been witnessed amid relaxation of capital controls that were implemented during previous year to curtail outflow of foreign exchange from country. "In FY24, Pakistan witnessed highest ever profit and dividend repatriation since FY18, as authorities cleared backlog," said Arif Habib Limited in note. "This marked significant repatriation high in six years." During FY24, most of amount was repatriated on account of Foreign Direct Investment. Out of total amount, repatriation of profit and dividend from FDI was $ 2,085.1 million and amount repatriated under Foreign Portfolio Investment stood at $ 130 million. Highest outflow of profit and dividends amounting to $ 558.6 million was sent to UK, while UAE ranked second with $ 273.6 million in FY24. Repatriation of profit and dividend clocked in at $ 414.5 million during June 2024 against $ 918.1 million repatriated in May 2024, showing decrease of nearly 55 percent or $5 03.6 million. However on yearly basis, amount repatriated was exponentially higher as compared to mere $ 17.9 million recorded in June 2023. During June 2024, out of total amount $ 390.5 million was repatriated on account of FDI, while $ 24.1 million was repatriated on account of FPI.