By Muhammad Mudassar ISLAMABAD, April 21 (INP-WealthPK): The power sector received the major share of the total $1.25 billion foreign direct investment (FDI) Pakistan attracted during the first eight months (July- February) of the fiscal year 2021-22. Overall, the total FDI was 6.1% more than the same period of the previous fiscal year 2020-21, according to the ministry of finance's monthly review of the economy, reports WealthPK. The power sector attracted the largest FDI during the period under review, reaching $429.6 million (34.2%), followed by financial business $275.0 million (21.9%), communication $185.3 million (14.7%) and oil & gas exploration $178.5 million (14.2%). Country-wise, Pakistan received $384.5 million (30.6%) FDI from China during the period, $174.9 million (13.9%) from the United States, $78.6 million (6.3%) from UAE, $63.8 million (5.1%) from the Netherlands and $42.4 (3.4%) from the United Kingdom. Foreign Private Portfolio Investment registered a net outflow of $314.6 million during the period, while Foreign Public Portfolio Investment recorded a net inflow of $904.9 million. In January 2022, an inflow of $1 billion was recorded on account of the proceeds of the Pakistan International Sukuk bond. The total international portfolio investment experienced an inflow of $590.3 million from July-February 2021-22 as against an outflow of $385.8 million last year. The total foreign investment registered an inflow of $1.84 billion during the period under review. Before the launch of the China-Pakistan Economic Corridor (CPEC), Islamabad faced severe electricity shortages. Thanks to the Chinese investments in the multi-billion-dollar project, Pakistan now produces enough electricity to meet its domestic needs. CPEC has also contributed to the highest inflow of FDI from China. Experts said that despite the massive depreciation of the rupee against the US dollar and high inflation, the country will still achieve its economic growth target in the fiscal year 2021-22. Due to economic revitalisation, Pakistan expects to attract FDI worth $1.5-$2 billion in the fiscal year. Pakistan has significant potential to attract more foreign investment to tap into the sectors of the economy, which remain to be exploited. Creditors must be assured that Pakistan has a robust repayment plan in place. Pakistan can use CPEC as a vehicle for attracting more foreign direct investments from China in the labour-intensive and export-oriented sectors. It is also imperative to make special economic zones operational to attract FDI.