Updated on
Summary
During the first two months (July-August) of FY10, an amount of $1.525 billion was sent home by overseas Pakistanis, showing an impressive 25 percent rise as compared to $1.219 billion received in the same period last year. According to the State Bank of Pakistan, the amount of $1.525 billion includes $0.66 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs). Pakistani workers remitted a record amount of $320.41 million from UAE, $290.64 million from Saudi Arabia, $140.48 million from Britain and $50.80 million from European countries. At least $780 million were received in August 2009.
