KARACHI: Foreign investors dumped government treasury bills (T-bills) worth $49 million in July, the first month of FY26, while fresh inflows shrank to just $13 million, exposing the continued weakness in investor appetite despite signs of macroeconomic stability.

Latest data from the State Bank of Pakistan shows that almost the entire inflow during the month came from the United Kingdom ($13.07m), while most of the outflows also originated there ($43.7m). The UAE contributed no fresh inflows but saw outflows of $5.1m, underlining the limited scope of foreign participation.

Analysts said the sell-off highlights persistent scepticism over Pakistan’s investment climate. “Within a year, the policy rate has halved to 11pc. There is still room for further cuts, which........

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