In June 2013 alone, overseas Pakistani workers sent home $1.165 billion, up 4.23%, compared with $1.117 billion in the corresponding month of 2012. PHOTO: FILE
Remittances from Saudi Arabia, UAE, USA, UK, Gulf Cooperation Council (GCC) countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $4.105 billion, $2.750 billion, $2.186 billion, $1.946 billion, $1.608 billion and $357.37 million respectively.
A year ago, inflows were $3.687 billion, $2.849 billion, $2.334 billion, $1.521 billion, $1.495 billion and $364.79 million respectively.
Remittances from Norway, Switzerland, Australia, Canada, Japan and other countries in July-June 2012-13 were $967.79 million against $935.36 million in the previous fiscal year (July-June 2011-12).
Monthly average of remittances was calculated at $1.160 billion compared to $1.099 billion in the previous fiscal year.
In June 2013 alone, overseas Pakistani workers sent home $1.165 billion, up 4.23%, compared with $1.117 billion in the corresponding month of 2012.
In the month, remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries were $353.18 million, $218.60 million, $179.93 million, $171.94 million, $138.18 million and $31.03 million respectively.
In comparison, inflows were $333.68 million, $219.14 million, $206.60 million, $126.72 million, $128.12 million and $29.24 million respectively in June 2012.
From Norway, Switzerland, Australia, Canada, Japan and other countries, Pakistani workers remitted $71.93 million in June against $73.98 million in the corresponding month last year.
Published in The Express Tribune, July 11th, 2013.
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@Hasan
Really arrogant and irresponsible comments about overseas Pakistanis.You forced me to comment on your post.Would you mind if I ask your contribution to the country and it's people.Back up your allegations with some numbers if you can in the future I reckon.
I don't think so...they don't count western union
Alone send around $ 600 for my family every month through...W.Union
Do remittances via Moneygram or Western Union count towards the figures above aswell?
@hasan:
Not only does this facilitate money-laundering but it puts pressure on the Rupee because these Dollars are purchased from the domestic market.
Ofcourse, foreign remittances are tax-free so this is a great way to not only launder black money but also get away with paying no tax at all!
The cost to the national exchequer is HUGE!
@hasan i work 3 illegal jobs and im studying in a government university, i have a degree from pk which got me NOTHING so i started from rock bottom in one of the countries mentioned above, i send back $300 to my parents monthly. thats 30000 rupees from one insignificant person who works as a bartender, personal shopper and tutor. Think big of all the docotors, engineers, lawyers, bankers, etc etc etc.
@Hasan millions of pakistanis live abroad & most of them are there only to support there families here in pakistan.
@hasan: ET why do you allow such comments that are so wrong. My dad is a senior Vice president in a local telecom company in Saudi and he alone sends 9000 Riyals every month to support our relatives.
And they are still not allowed to vote in Pakistani Elections!