April 15, 2009 / 1:09 PM / in 10 years

Foreign investment in Pakistan down 36 pct July-March

KARACHI, April 15 (Reuters) - Net foreign investment in Pakistan fell 35.9 percent to $2.08 billion in the first nine months of the 2008/09 fiscal year compared with $3.25 billion in the same period last year, the central bank said on Wednesday.

Foreign private investment fell 19.5 percent to $2.62 billion in the July to March period, compared with $3.26 billion the previous year, the State Bank of Pakistan said.

Out of total foreign investment, foreign direct investment was down 8 percent to $3.04 billion, compared with $3.31 billion in the year-earlier period.

There was an outflow of $957.5 million from July to March this year compared with an outflow of $53.1 million in the same period last year.

There have been outflows from the stock market because of political uncertainty, and economic and security worries.

Foreign investors also lost confidence and sold shares when stock market authorities placed a floor under the main index in August following sharp falls.

The floor was removed in December. (Reporting by Sahar Ahmed; Editing by Victoria Main)

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