Monthly average of remittances for July-April was calculated at $1.157 billion. ILLUSTRATION: JAMAL KHURSHID
According to data released by the State Bank of Pakistan, the inflow of remittances in July-April 2012-13 from Saudi Arabia, UAE, USA, UK, Gulf Cooperation Council (GCC) countries (including Bahrain, Kuwait, Qatar and Oman) and European Union countries stood at $3.372 billion, $2.312 billion, $1.820 billion, $1.611 billion, $1.332 billion and $297.69 million respectively.
Remittances from Norway, Switzerland, Australia, Canada, Japan and other countries in 10 months of the current fiscal year amounted to $825.80 million against $785.65 million in the corresponding period a year earlier.
Monthly average of remittances for July-April was calculated at $1.157 billion.
In April alone, overseas Pakistanis in Saudi Arabia, UAE, USA, UK, GCC countries and EU states sent home $392.28 million, $226.07 million, $183.19 million, $176.14 million, $135.81 million and $28.65 million respectively.
In April last year, the inflow was $332.43 million, $245.33 million, $198 million, $131.82 million, $127.12 million and $31.14 million respectively.
Remittances from Norway, Switzerland, Australia, Canada, Japan and other countries in April amounted to $73.76 million.
Published in The Express Tribune, May 14th, 2013.
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I ask the same question again. Does our people outside suddenly got huge salary hike in this tough economic scenario? Does these guys all suddenly get employed and have HUGE surpluses to send home? Is it that suddenly large number of people have gone outside and got large sums of money?? Nothing of this is true. Western countries are still suffering in recession. Millions of paki lost jobs, and unlikely to be hired back quickly as other countries will prefer their own citizens. Middle east have also closed doors recently and thousands are coming back, including students from US, UK, Canada who find no job there. So what is the source of this remittance? Its simply black money going out of country and then brought in through channels to make it white. Its simple logic and nothing to be proud of.
Encouraging trend. But unfortunately the goverment does not facilitate Overseas Pakistanis to vote