Workers' remittances witness robust growth of 13.2 percent
The State Bank of Pakistan (SBP) released the first quarterly report on the increase in remittances.
(Web Desk) - The workers’ remittances witnessed a robust growth of 13.2 percent during the first quarter of the current fiscal year (2018-19), with inflows crossing the 5 billion dollars mark in a quarter for the first time.
According to the first quarterly report by State Bank of Pakistan, the increase in remittances is more pronounced from the non-GCC (Gulf Cooperation Council) corridors, especially the United States and United Kingdom owing to many factors.
The official data revealed that increased economic activity in the developed economies may have incentivized the Pakistani Diasporas in these countries to remit more to their families.
