KARACHI - The growth in repatriation of profits and dividends of the corporate sector of foreign companies has declined by 8.42 percent during the first ten months of current financial year amid unprecedented deterioration of profitability and earnings in financial, telecommunication and chemical sectors during the period under review. The Multinational Companies (MNCs), operating in Pakistan have repatriated $672 million to their home countries during July-April FY09 as against $735 million of last fiscal. The substantial fall in the repatriation and dividends of the corporate sector is owed to deceleration in FDI and other investment inflows growth during July-April FY09. According to the sector-wise break-up on repatriation of profits and dividends by the foreign companies, compiled by SBP, oil and gas exploration, petroleum refining and fertilizer sectors registered moderate increase in repatriation of profit and dividends during the period under consideration. However, food, textile, cement, transport equipment including automobiles, construction, trade, transport, communications and telecommunications and financial business sectors witnessed sharp decrease in repatriated earnings of the corporate sector. Sector-wise data also suggests oil and gas exploration sector profitability showed a meagre growth of 2.1 percent as its earning portfolio increased to $65.9 million during Jul-April FY09 from $64.6m in the corresponding period of preceding year. Petroleum refining business posted $77.3 million profitability and dividends during said course of ongoing fiscal depicting 40 percent significant raise in growth as against $55.2 million during last financial year. Fertilizer sector registered a robust growth of 73.4 percent and earned $7.2 million in July-Against FY09 against $4.1 million of FY08. This sharp increase is attributed to high demand in fertilizers off-take by the agriculture sector during ten months of prevalent fiscal. Financial sectors repatriation of profit dropped to $73.4 million in July-April FY09, indicating a major decrease. Lower profitability of commercial banks on the back of increased non-performing loans and reduction in FDI also contributed to decline in repatriation of profit and dividend during said months of FY09. Cement sector registered a decline of 3.8pc in growth as dropped to $5.4m in July-April 2008-09 from $5.6m witnessed during same period of FY08. Transport sectors repatriation in profitability slashed to $3.9 million during ten months of FY09 from $15 million recorded in last fiscal. The profitability of the sector grew by 74 percent during said period of current financial year.