Foreign remittances

Premier says strong turnaround is a result of continuing recovery in exports, record remittances

Minister says initiative would enable Pakistani expatriates to send their hard-earned money to their loved ones

Both inward and outward remittances had suffered

It will also help ease pressure on current account, reduce trade deficit

Overseas workers sent $1.69b in March, figure for 9MFY17 amounts to $14.06b

Only $116,000 flew to the neighbour against inflow of $329,000 in FY16

The drop in the remittances is clearly a reflection of the current economic slowdown in Middle Eastern countries

The rate of growth in inward remittances continues to remain sluggish

It is time we recognise the flow of cash is not only way Pakistanis settled in distant lands can give back to society

Increase 6% year-on-year, Saudi Arabia remains largest source

Narrowing interest rate differential seen as reason by SBP in annual report

Increase 5.4% year-on-year, inflows from Saudi Arabia remain largest contributor