The overseas Pakistani workers remitted an amount of $2,463.69 million in the first two months (July – August) of the current fiscal year showing a growth of 2.36 percent received in the same period of last fiscal year. “This shows a growth of 2.36 percent or $56.91 million as compared to $2,406.78 million received during the same period of last fiscal year”, a statement issued by the State Bank of Pakistan (SBP) said.
The statement of the Central Bank said that the inflow of remittances in July and August in 2012 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $657.78 million, $505.80 million, $446.61 million,
$334.06 million, $274.09 million and $63.57 million respectively as compared to the inflow of $601.62 million, $552.11 million, $458.45 million, $282.45 million, $250.76 million and $74.97 million respectively in July-August 2011.
It further said that Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first two months of current fiscal year (July-August FY13) amounted to $181.78 million as against $186.42 million received in the first two months of last fiscal year (July-August FY12).
The monthly average remittances for July-August 2012 period comes out to $1,231.85 million as compared to $1,203.39 million during the corresponding period of the last fiscal year. An amount of $1,258.98 million was remitted by Overseas Pakistanis in August 2012 as against $1,310.47 million in the same month of the last fiscal year (August 2011).
In August 2012, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $308.12 million} $265.26 million, $231.31 million, $185,57 million, $133.73 million and $32.74 million respectively as compared with the inflow of $309, 79 million, $294.46 million, $263.58 million, $163.90 million, $134.31 million and $42.38 million respectively in August, 2011. Remittances received from Norway, Switzerland, Australia,
Canada, Japan and other countries during the second month of current fiscal year (August FY13) amounted to $102.25 million as against $102.05 million received in the second month of last fiscal year (August FY12). The continued growth in workers’ remittances is the result of the efforts made by Pakistan Remittance Initiative (PRl) in collaboration with other stakeholders to facilitate both Overseas Pakistanis and their families back home.
