Remittances up 13pc to $2.9b in July-Aug

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Overseas Pakistanis remitted an amount of $2978.10 million in first two months of current fiscal year (FY15).

This, the central bank said, shows an impressive growth of 12.61 per cent compared with $2644.53 million received during the same period of the last fiscal year (FY14).

The inflow of remittances during August from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $396.90 million, $284.90 million, $199.01 million, $172.71 million, $152.17 million and $33.14 million, respectively.

Last year, overseas Pakistanis from above destinations had remitted $321.86 million, $256.01 million, $217.87 million, $198.53 million, $134.46 million and $36.75 million, respectively. The remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the last month amounted to $89.88 million as against $74.66 million received in the same month of the last fiscal year (FY14).