KARACHI - The inflow of foreign direct investment in telecom and financial sectors showed declined by 24 per cent and 1.7 per cent respectively during the 11 months of the current financial year. However, the growth of FDI in oil & gas exploration sector increased by 14 per cent during the period under review.    It was learnt on Monday that the total inflow of foreign direct investment amounted to $ 3.881 billion with privatization proceeds and 3.748 billion without privatization during July-May 2008. The negative growth in telecom sector surprised the market players as the telecom sector attracted record inflow of US$4.878 billion foreign direct investment during last three years since 2005 to 2007. According to the latest break up of foreign investment, Pakistan had received a total of 550 million dollars worth foreign direct investment in oil & gas exploration in July-May-08 from the inflow of 482.7 million dollars in the corresponding eleven months of the last year. The FDI in financial sector stood at 883.3 million in July-May FY08 against 898.7 reported in same months of preceding year. Telecom sector attracted 1.126.9 billion dollars in the said period of FY08 compared to 1.482.8 billion dollars in FY07.    The total foreign private investment stood at 5.627 billion dollars or -30.2 percent against 3.926 billion dollars while portfolio investment went up to 45.4 million dollars or -95.9 percent against 1107 billion dollars in period under review. The foreign public investment inflow in equity securities of which GDRs of OGDC amounted to $ 16.8 million or-97.4 percent  versus $653.4 during respective eleven months of July-May 2008. According to the financial experts, the recent turmoil in the market observed the index plunge by nearly 4,000 points in the last 2 months, in addition to that monetary tightening measures including fixation of minimum deposit rates on savings had some negative impact on bank's fundamentals. Thus amid prevalent political environment and uncertainty in the capital market amongst major sectors, the banking sector has been most affected as weaker economic scenario aroused negative sentiments among investors. Finance Minister, Naveed Qamar has reportedly said that the federal government was eyeing to issue much-awaited Global Depository Receipts (GDRs) of leading banks in the public sector, National Bank, Habib Bank, in addition to a power generation company, Kot Addu Power Company soon to encourage the international investors towards Pakistani GDRs. Global Depository Receipts (GDRs) provide investors an opportunity to reach beyond the geographical confines of their parent country. Recent years have seen a growing number of emerging market countries opting to raise capital from international investors through issues of depository receipts. Depository receipts have become increasingly popular because they give companies, particularly those from developing markets, a convenient way to attract a broad range of investors than is possible locally. Earlier, the process of acquisition of banks and their privatisation proceeds contributed towards accelerating the sharp increase in foreign direct investment (FDI). The launching of the Global Depository Receipts (GDRs) of the OGDCL, UBL and MCB from UK and encashment of US and receipts of Euro bonds played a key role in attracting more portfolio investment in the current financial year.