Net FDI in Information and Communication sectors during July-March surges to US $ 491.3 million

Islamabad, May 15, 2020 (PPI-OT): On the direction of the Federal Minister for IT and Telecommunication, Ministry of IT and Telecommunication has taken number of steps, including policy interventions, that contributed both directly and indirectly in the economy and national exchequer. Due to initiatives taken by Ministry of IT and Telecommunication, net Foreign Direct Investment (FDI) in Information and Communication sectors during the first nine months of FY 2019-20 (July-March) surged to US $491.3 million.

As per the State Bank of Pakistan, net Foreign Direct Investment (FDI) in the Information and Communication sectors during July 2019 – March 2020 was US $ 491.3 million as compared to the negative net FDI of US $ 113.7 million during the corresponding period of FY 2019-20 Ministry of Information Technology and Telecommunication has played an important role regarding the development of IT and Telecom industry and adopted facilitative approach towards it.

Regular coordination is being done with the industry to obtain objective feedback for planning and policy formulation. Ministry of IT has also strong coordination with public sector stakeholders for the promotion of ICT sector of Pakistan.

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