$2.46 billion! | Pakistan Today

$2.46 billion!

The Pakistanis working overseas sent back home over $2.463 billion during the first two months, July–August, of the current fiscal year 2012‐13, said the central bank on Tuesday. This shows a growth of 2.36 percent or $56.91 million compared to $2.406 billion the country had received during the same period of FY12. The inflow of remittances during the months in review 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 with the inflow of $601.62 million, $552.11 million, $458.45 million, $282.45 million, $250.76 million and $74.97 million in same months last year. The remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries amounted to $ 181.78 million as against $186.42 million received last year. 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 last year’s corresponding period. Some $1,258.98 million were remitted by overseas Pakistanis in August as against $ 1,310.47 million in the same month of FY12. In August 2012, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries and EU countries was counted at $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. The 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 (PRI) in collaboration with other stakeholders to facilitate both overseas Pakistanis and their families back home,” said the State Bank.



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