Over 79 per cent of all foreign investment in the country’s capital markets — including bonds and equities - has fled the country in the last 40 days. The State Bank of Pakistan’s (SBP) latest data issued on Thursday showed the pace of outflows from the country’s treasury bills,

Pakistan Investment Bonds (PIBs) and equity markets has accelerated. During the current fiscal year, foreign investment in domestic bonds and equity markets noted an inflow of $4.144 billion, however, that quickly turned into outflows during March. The pace has continued into

April as well. As of April 8, total outflows during the current fiscal year have reached $3.274bn accounting for 79pc of the total investments. Foreign investors had in the current fiscal year rushed to buy T-bills in the wake of high interest rates investing $3.431bn.

But volatility fueled by the pandemic and investors’ risk-aversion led to sudden outflows of $2.357bn in just 40 days.