Foreign remittances up by 16pc in 2014-2015

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The inflows of overseas Pakistani workers increased to $14.96 billion in the first 10 months (July to April) of the current fiscal year 2014-15, showing a significant growth of 16.06 per cent compared with $ 12.898 billion received during same period in the preceding year.

During April 2015, the overseas Pakistanis remitted $1.640 billion, which is 4 per cent higher than March 2015 and 25.06 per cent higher than April 2014.

The country-wise details for the month of April 2015 shows that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $ 519.68 million, $ 395.69 million, $ 233.85 million, $ 174.47 million, $ 190.59 million and $ 26.87 million respectively, compared with the inflow of $ 415.09 million, $ 233.97 million, $ 206.15 million, $ 166.07 million, $ 169.67 million and $ 36.37 million respectively in April 2014.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during April 2015 amounted to $ 99.43 million together, as against $84.53 million received in April 2014.