The Pakistanis working abroad sent back home over $10.876 billion during first 10 months, July 2011–April 2012, of the current fiscal year 2011-12, reported the central bank Thursday. This, the bank said, shows an impressive growth of 20.23 percent or $1830.38 million when compared with $9.046 billion received during the corresponding period of FY11. According to State Bank, during the period in review the inflow of remittances from across the globe showed an upward trend. The inflows from Saudi Arabia, UAE, USA, UK, Gulf Cooperation Council (GCC) countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $2.987 billion, $2.386 billion, $1.922 billion, $1.263 billion, $1.226 billion and $304.59 million, respectively. These receipts were against last year’s $2.085 billion, $2.091 billion, $1.677 billion, $990.92 million, $1.063 billion and $290.77 million, respectively, in July-April of 2011. The remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries were counted, accumulatively, at $785.65 million as against $846.36 million received last year. A monthly account of remittances depicts that on average the remittances for July-April period comes out to $1.087 billion compared to $904.66 million of same period in FY2011, registering an increase of 20.23 percent. In April, $ 1.141 billion were remitted that were up by 10.73 percent compared with $ 1.030 billion received in the same month of 2011. “Almost all of this growth in remittances during April, 2012 over the corresponding period of the last fiscal year was through banking channels,” the central bank said. Country-wise receipts during April from Saudi Arabia, UAE, USA, UK, GCC and EU countries amounted, respectively, to $332.43 million, $245.33 million, $198.00 million, $131.82 million, $127.12 million and $31.14 million.
