FDI in leather sector reaches $3 million
According to a new report released by the State Bank of Pakistan (SBP), foreign direct investment (FDI) in the country’s leather and leather goods sectors reached $3 million in fiscal year 2006/07. Total FDI was $5.2 billion.
However, despite improved FDI, concerns over exports remain. Commenting on the country’s performance, governor of the SBP, Dr Shamshad Akhtar, said that there had only been nominal growth in exports of non-textiles including leather and that the government is now adopting various aimed at improving exports in these sectors yet further.
According to the report, Pakistan’s exports of finished leather increased to $303 million in FY07 (July 2006 to June 2007), up from $292.4 million in FY06, however, leather goods exports slipped to $546 million from $711 million in the prior year.
