Overseas Pakistanis remit $4.8bn in first 3 months of FY18 Overseas Pakistanis remit $4.8bn in first 3 months of FY18

The overseas Pakistani workers remitted US $4,790.01 million in the first three months (July to September) of the fiscal year 2018 (FY18), compared with US $4,740.37 million received during the same period in the preceding year, the State Bank of Pakistan (SBP) said in a statement.

The SBP said that during September 2017, the inflow of workers’ remittances amounted to US $1,293.88 million, which is 33.79% lower than August 2017 and 19.75% lower than September 2016.

The country-wise details for the month of September 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $308.05 million, US$ 302.77 million, US$ 171.9million, US $194.76 million, US $141.02 million and US $45.07 million respectively compared with the inflow of US $437.87million, US $361.9 million, US $211.14 million, US $210.22 million, US $182.18 million and US $43.60 million respectively in September 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during September 2017 amounted to US $1,30.31 million together as against US $165.45 million received in September 2016. (APP)

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