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Over 10pc increase in remittances during current FY

Over 10pc increase in remittances during current FY

LAHORE: Overseas Pakistani workers remitted an amount of $ 9,033.41 million in the first seven months (July-January) of the current fiscal year, showing a growth in remittances of 10.08 per cent against $ 8,206.34 million received during the same period of last fiscal year.

The inflow of remittances during the period from July to January of FY 2013-14 from Saudi
Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $ 2,596.86 million, $ 1,785.84 million, $ 1,441.42 million, $ 1,309.31 million, $ 1,048 million and $ 251.13 million respectively as compared to the inflow of $ 2,292.02 million, $ 1,669.36 million, $ 1,324 million, $ 1,155.35 million, $ 941.83 million and $217.89 million respectively during July-January in FY 2012-13, says a statement issued by the State Bank of Pakistan.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first seven months of current fiscal year amounted to $600.85 million as against $605.89 million received in the first seven months of last fiscal year.

In January 2014, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries, and EU countries amounted to $ 393.12 million, $ 213.50 million, $ 193.01 million, $ 169.46 million, $ 150.31 million and $ 34.56 million respectively.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during January 2014 amounted to $89.43 million.