$2b profit sent abroad in 10 months

Foreign companies repatriate $172m in April, up 42% YoY

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KARACHI:

Foreign companies operating in Pakistan repatriated $172 million in profits during April 2026, marking a significant 42% increase compared to the same month of last year, according to data released by the State Bank of Pakistan (SBP).

The sharp rise was primarily driven by the financial business sector, which accounted for $72 million in outflows, as per data compiled by AKD Securities. The food sector followed with $30 million, while tobacco and cigarette manufacturers repatriated $26 million.

On a country-wise basis, the United Kingdom led with $81 million, reflecting strong returns for British investors in the Pakistani market.

For the first 10 months of fiscal year 2025-26 (10MFY26), the cumulative profit repatriation reached slightly over $2 billion, up 8.7% from the corresponding period of last year. This steady upward trend indicates growing confidence among foreign investors despite ongoing economic challenges, including currency fluctuations and global uncertainties. However, it also represents a continued outflow of foreign exchange.

Furthermore, the Pakistani rupee inched up 0.01% in the interbank market to close at 278.57, registering a gain of Rs0.03 against the greenback. It had ended the previous session at 278.60 on Monday.

Meanwhile, the US dollar found some support at the beginning of Asian trading hours after President Trump announced that he had paused a planned strike on Iran to allow space for negotiations. Bond markets also stabilised following a two-day selloff.

Gold prices in Pakistan remained unchanged on Tuesday as international bullion tumbled more than 2% on a firmer US dollar and persistent inflation fears that kept interest rate hike expectations and Treasury yields elevated.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola stood at Rs477,162, while 10-gram gold was sold for Rs409,089. The local market had gained Rs900 per tola on Monday to reach the current level. Silver prices remained stable at Rs8,099 per tola. In the international market, spot gold fell 1.5% to $4,498.43 per ounce by 11:30 am ET, hitting its lowest level since March 30, according to Reuters.

Adnan Agar, Director at Interactive Commodities, said the market has been weak for the last four to five trading sessions. Gold touched the low of $4,464 and was trading near $4,503 with the day's high at $4,590.

He noted that a break below $4,500 could take prices towards $4,400 and possibly $4,200, though support is expected around these levels. He cited ongoing US-Iran tensions and high oil prices above $110 per barrel as factors keeping the market under pressure.