Pakistanis working abroad sent back home over $7.435 billion during the first seven months of the current fiscal year 2011-12, the State Bank reported Friday. This, the central bank said, shows an impressive growth of 21.54 per cent or $1.317 billion compared to $6.118 billion, the dollar-hungry country had received during the last year’s corresponding period, July-January 2011.
The remittances received from all countries of the world during July-January 2012, depicted growth, the bank said. It said during the review period, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted, respectively, to $2.008 billion, $1.644 billion, $1.328 billion, $853.47 million, $845.41 million and $215.64 million. Whereas, remittances from the same destinations last year amounted to $1.353 billion, $1.437 billion, $1.145 billion, $669.70 million, $721.47 million and $195.66 million, respectively, said SBP.
It said the remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries were calculated at $540.34 million as compared to $594.98 million received during the corresponding months of last fiscal year. The monthly average remittances for the period came out to be $1.062 billion as compared to $874.00 million of the same period in FY11. This shows a 21.54 per cent upsurge in the flow of remittances over last year, said SBP. Last month in January, the regulator said, an amount of $1.110 billion was sent back home by overseas Pakistanis, which registered an increase of 34.37 per cent when compared with $826.57 million the country received during the same period in 2011.
During the month under review, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries and EU countries accumulated to $346.58 million, $231.42 million, $178.07 million, $127.12 million, $124.22 million and $26.50 million, respectively, against an inflow of $209.58 million, $181.40 million, $148.03 million, $92.53 million, $95.18 million and $23.56 million in January 2011. Whereas, the remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the said month amounted to $76.73 million as against $76.29 million received during the same month in FY11.
