Pakistan's Foreign direct investment (FDI) shrank 23.27 per cent month-on-month to $87.7 million in July as the country struggled with the ongoing political and economic turmoil.

However, data released by the State Bank of Pakistan (SBP) on Friday showed that the FDI increased by $12.9m or 17.3pc when compared with an inflow of $74.8m the country received in July 2022, reports Dawn News.

The FDI in July 2022 was $74.8m and after adding a $3.7m portfolio investment the total rose to $78.5m.

The highest FDI inflows were from China totalling $18m in July much higher than $7.1m in the same month last year. China has been the largest investor in Pakistan for the last many years, reports the newspaper.

Pakistan is witnessing political turmoil for the past several months.

The country is also gearing up for the general elections in the upcoming months. The National Assembly’s term is scheduled to end on August 12.

Meanwhile, Balochistan Awami Party (BAP) Senator Anwaarul Haq Kakar was named as the interim prime minister of Pakistan on Saturday