Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during 11 months of the current fiscal year amounted to $954.77 million. ILLUSTRATION: JAMAL KHURSHID
KARACHI: Overseas Pakistani workers remitted $14.333 billion in the first 11 months (July-May) of the current fiscal year, an increase of 12.3% over $12.755 billion received in the same period of last year, the State Bank of Pakistan (SBP) said on Wednesday.
The inflow of remittances from Saudi Arabia, United Arab Emirates, United States, United Kingdom, other Gulf Cooperation Council (GCC) countries (including Bahrain, Kuwait, Qatar and Oman) and European Union states amounted to $4.257 billion, $2.814 billion, $2.242 billion, $1.979 billion, $1.691 billion and $394.37 million, respectively.
In comparison, the inflows were $3.751 billion, $2.531 billion, $2.006 billion, $1.774 billion, $1.470 billion and $326.34 million, respectively, in July-May of last fiscal year.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during 11 months of the current fiscal year amounted to $954.77 million as opposed to $895.86 million in the same period of previous year.
In May this year, the inflow of remittances from Saudi Arabia, UAE, US, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $451.14 million, $290.91 million, $214.74 million, $181.04 million, $164.01 million and $39.06 million, respectively.
Published in The Express Tribune, June 12th, 2014.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS (5)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
still billions of dollars can be send by overseas Pakistanis.....just a ray of hope is required...May Allah bless my country.
@Ayesha: Trade deficit and current account deficit
Where does this money go? Because we're always struggling for more inflow.
and how much went out??? taken away by the corrupt.
Hats off to overseas Pakistanis. You are saving this ship from sinking.
Please keep doing!!