KARACHI: The overseas workers’ remittances received during the first eight months of the ongoing fiscal year 2019-20 has witnessed an over five percent increase as compared to the same period of the previous year 2018-19, ARY NEWS reported.
According to a data shared by the State Bank of Pakistan (SBP), the workers’ remittances received during the ongoing fiscal year remained at US$ 15.126 billion recording an increase of $ 770.7 million or 5.4 percent over remittances received during the same period of the previous year that stood at $ 14.355 billion.
It said that the foreign inflows during February 2020 amounted to $ 1.824 billion recording a decrease of $ 83 million or 4.4 percent over remittance received in January 2020 that stood at $ 1.907 billion.
The remittances during February, however, witnessed an increased of $ 242.6 million or 15.3 percent as compared to the amount received during corresponding month of 2019 that amounted to $ 1.581 billion.
Giving country-wise division of the remittances during February 2020, the SBP said that large sums were received from Saudi Arabia ($ 421.96 million), UAE ($ 387.1 million), USA ($ 333.5 million) and United Kingdom ($ 253.5 million) recording a decrease of 2.6 percent, 2.1 percent, 0.5 percent and 15.2 percent respectively as compared to January 2020.
In July 2019, Prime Minister of Pakistan Imran Khan taking to the micro-blogging website Twitter thanked the overseas Pakistani’s for sending their remittances through proper channel.
Read More: Overseas Pakistanis send over $11 bn remittances in first half of FY20
PM Imran Khan in a tweet that he is thankful to overseas Pakistani’s for using banks and legal sources of sending back remittances to their native land.
The Prime Minister in a tweed said: “I want to thank our overseas workers for sending more remittances through banking channels. Remittances for the past fiscal year came in much higher at 9.7 % annual growth & totalled $21.8 bn for the yr. This was much higher than the previous year when they grew only 2.9 %.”
