Telecom operations pull out FDI from Pakistan

STAFF REPORT IBD: The telecom sector witnessed an outflow of $253.3 million Foreign Direct Investment (FDI) in eight months of the current financial year 2011-12 as a result of closure and curtailment of their businesses and operations in Pakistan."The de-investment in the telecom sector, one of the leading contributors of FDI in Pakistan, was recorded 364 per cent in Jul-Feb compared with FDI landing $96 million in the corresponding period of the previous financial year," State Bank

Read more