Overseas Pakistani workers remit $14 billion in first nine months of FY17

Overseas Pakistani workers remit $14 billion in first nine months of FY17

Overseas Pakistani Remittance News

KARACHI: The Overseas Pakistani workers have remitted $14 billion in first nine months-July to March, of the fiscal year 2017, compared with $14.38 billion received during the same period in the preceding year.

A statement issued here on Monday by the State Bank of Pakistan (SBP) said that during March 2017, the inflow of workers’ remittances amounted to $1.69 billion, which is 19.58 percent higher than February 2017 and 1 percent less than March 2016.

It said that the country wise details for the month of March 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $504.6 million, $363.24 million, $213.29 million, $209.14 million, $197.21 million and $38.85 million respectively compared with the inflow of $514.8 million, $396.35 million, $202.73 million, $202.37 million, $212.47 million and $26.61 million respectively in March 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during March 2017 amounted to $168.04 million together as against $155.82 million received in March 2016, the SBP statement further pointed out.

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