Worker remittances reach $12.76 billion

Money sent home by overseas Pakistanis increases 5.7%.


Our Correspondent June 10, 2013
In May alone, overseas Pakistani workers sent home $1.193 billion. ILLUSTRATION: JAMAL KHURSHID

KARACHI: Overseas Pakistanis have sent home $12.762 billion in 11 months of the current fiscal year, a growth of 5.74% or $693.34 million compared with $12.069 billion received in the same period of last fiscal year, shows data released by the State Bank of Pakistan.

Inflow of remittances from July-May 2012-13 from Saudi Arabia, UAE, USA, UK, Gulf Cooperation Council countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $3.751 billion, $2.531 billion, $2.006 billion, $1.774 billion, $1.470 billion and $326.34 million respectively.

In comparison, the inflows were $3.353 billion, $2.630 billion, $2.128 billion, $1.394 billion, $1.367 billion and $335.55 million respectively in July-May 2011-12.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries in 11 months of the current fiscal year stood at $902.98 million against $861.38 million in the corresponding period of last year.

Monthly average of remittances for July-May this fiscal year came to $1.160 billion compared to $1.097 billion in the same period a year ago.

In May alone, overseas Pakistani workers sent home $1.193 billion, almost the same as in May 2012 when $1.192 billion was remitted.

In the month, remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $379.96 million, $219.56 million, $186.29 million, $162.95 million, $138.03 million and $28.65 million respectively.

In the corresponding month last year, overseas Pakistanis remitted $365.46 million, $243.46 million, $205.52 million, $130.71 million, $140.27 million and $30.96 million respectively.

Published in The Express Tribune, June 11th, 2013.

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COMMENTS (4)

Asif | 11 years ago | Reply

So why dont they leave then? Who's stopping them?

just_someone | 11 years ago | Reply

As an overseas Pakistani, I can tell you that yes, we are treated very poorly, esp for what we are doing for our home country. Pakistan would be bankrupt without the hard working overseas Pakistani. Sadly, the worst treatment is reserved for the low-skilled hardworking overseas Pakistanis who go to the Middle East. They are treated poorly in countries they are living in and their home country. Immigrants to western countries, like myself, at least are treated well in the country we live in. The Govt should give special emphasis to make the lives of the low skilled overseas Pakistani better because these people are really the lifeblood of Pakistan and are the primary contributors to the remittances pool. Most of the western immigrants over time bring their families where they have immigrated to and contribute less to remittances.

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