Foreign Companies in Pakistan Transfer Record Profits Abroad in 6 Years
In the financial year 2023-24, foreign companies in Pakistan sent $2.215 billion abroad, a 6.7 times increase from $331 million the previous year. This is the highest repatriation of profits and dividends since FY18, as authorities cleared a backlog.
In June 2024 alone, repatriation surged by 23.1 times year-on-year to $414.5 million.
The Financial Business sector had the largest repatriation, totaling $638.6 million in FY24, up from $36.2 million the previous year. The Power sector sent $245.8 million abroad, compared to $44 million last year.
The Petroleum Refining sector had outflows of $130.9 million over the year and $0.1 million in June. The Communications sector repatriated $205.4 million in FY24 and $86.4 million in June. The Chemicals sector returned $76.2 million for the year and $13.4 million in June.
