Remittances Sent by Oversees Pakistanis Register 13.15pc Growth in 1QFY’18

The remittances sent by overseas Pakistanis in the first three months of the Fiscal Year (FY) 2018-19 registered a healthy 13.14 per cent growth as compared to remittances received during the same period of last fiscal year. According to State Bank of Pakistan’s (PSB) statistics, overseas Pakistanis remitted $5.4 billion in the first three months of FY19 (July to September), which shows a healthy growth of 13.14 per cent when compared with $ 4790.01 million received during the same period in the preceding year. During September 2018, the inflow of workers’ remittances amounted to $ 1452.43 million, which is 28.70 per cent less than August 2018 and 12.25 per cent higher than September 2017. ALSO READ Experts See Pak Rupee Depreciating Further by 5pc  The country-wise details for the month of September 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $ 360.16 million, US$ 301.15 million, US$ 231.21 million, US$ 203.08 million, US$ 133.95 million and US$ 41.1 million respectively compared with the inflow of US$ 308.05 million, US$ 302.77 million, US$ 171.9 million, US$ 194.76 million, US$ 141.02 million and US$ 45.07 million respectively in September 2017. Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during September 2018 amounted to $ 181.78 million together as against $ 130.31 million received in September 2017.