By Farooq Awan

Total foreign investment in Pakistan stood at $256.5 million during the October–December 2025 quarter, according to the Economic Infographics report issued by the Institute of Cost and Management Accountants of Pakistan (ICMA).

Foreign private direct investment (FPDI) reached $223.9 million during the quarter. China was the largest source of foreign direct investment, contributing $234.0 million.

Month-wise data shows that total foreign investment stood at $273.7 million in October 2025 and $104.4 million in November 2025, while a net outflow of $121.6 million was recorded in December 2025.

Foreign public portfolio investment amounted to $136.3 million during the quarter. It recorded an inflow of $133.0 million in October 2025, followed by a net outflow of $42.8 million in November 2025, and an inflow of $46.1 million in December 2025.

Foreign private portfolio investment, however, recorded a net outflow of $103.5 million during the quarter.

Foreign grants and loans were received under bilateral and multilateral arrangements. Saudi Arabia, including the Saudi Fund for Development (SFD Oil Facility), provided $302.31 million during October–December 2025. China was the second-largest contributor, providing $198.35 million during the quarter.

The report also shows that foreign exchange reserves held by the State Bank of Pakistan (SBP) increased during the period. SBP-held reserves rose from $14.5 billion in October to $14.6 billion in November, before making a larger jump to $16.1 billion by December.

Foreign exchange reserves held by commercial banks stood at $4.7 billion in October, decreased to $4.5 billion in November, and increased again to $4.7 billion in December.

During the same period, the exchange rate of the Pakistani rupee against the US dollar showed marginal movement. On October 31, 2025, the rupee stood at Rs282.8 per US dollar. By December 31, 2025, the rupee was recorded at Rs283.0 per US dollar.

All figures are based on official data compiled in ICMA’s Economic Infographics for the October–December 2025 quarter and are subject to revision by official sources.

Credit: INP-WealthPk