Tag: Remittances

lAHORE - The State Bank of Pakistan launched the historic Pakistan Remittance Initiative (PRI), in August 2009 to boost the flow of remittance sent home by expatriate Pakistanis. As a result of exemplary initiatives taken by SBP, in this connection, volume of home remittance attained tremendous growth during last couple of years. An amount of $6,118 million has been received from July 2010 to January 2011 showing a rise of $920 million (17.70 percent) over the corresponding figure

KARACHI - Pakistan's current account deficit has dwindled 97.34 percent to $81 million in the first seven months of the current fiscal year. This decline, analysts cited, is spurred by healthy dollar inflows from exports and worker remittances.
However, analysts believe that an expected rise in prices of oil on the back of political unrest in Middle Eastern countries might take Pakistan's current account deficit to $4.0 billion during 2010-11.
"The overall deficit may swell

KARACHI - Remittances sent home by the Pakistani Diaspora continued to grow, as an amount of $6.12 billion was received in the first seven months (July-January) of the Fiscal Year 2010-11, showing an increase of $919.92 million or 17.70% compared to $5.19 billion received over the same period in the last fiscal year.
The inflow of remittances in the July-January 2011 from UAE, Saudi Arabia, USA, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries

ISLAMABAD - The Federal Board of Revenue (FBR), to make the tax system more transparent, has requested the State Bank of Pakistan (SBP) to share data of foreign exchange remittances. An official source told Pakistan Today on Sunday that Chairman FBR Salman Saddique held a meeting with Governor State Bank Shahid Hafeez Kardar.
The FBR is faced with the challenge of ending corruption and under-invoicing for the last several years whereby businessmen and officials embezzle billions

KARACHI: Overseas Pakistanis continue to remit more money on the back of what analysts believe is a soaring demand for money at home and security-related uncertainties abroad owing to war on terror.
According to the State Bank of Pakistan (SBP), foreign remittances continued to show a rising trend during first five months of the current fiscal year, with Pakistani workers remitting $4.4283 billion. An increase of $ 595.72 million or 15.54 percent is seen compared to the