Inflow of remittances rises by 20pc

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Inflow of remittances rises by 20pc

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The monthly average remittances for the July-February 2011 period record at $870.41 million.

10 March,2011 07:57 pm

Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of almost $7 million was received during the first eight months of the current fiscal year.According to SBP statistics, the inflow showed an increase of 20.32 percent as compared to the same period of the last fiscal year. The inflow of remittances in the July-February period from UAE, Saudi Arabia, USA, GCC countries (including Bahrain, Kuwait, Qatar and Oman) UK and EU countries amounted to $1,627.09 million, $1,563.00 million, $1,298.26 million, $820,02 million, $770,91 million and $220.24 million respectively.The monthly average remittances for the July-February 2011 period come out to $870.41 million as compared to $723.39 million during the corresponding period of the last fiscal year.