The first month of the new fiscal year saw over 17 per cent more remittances compared to the same period of last year, the State Bank reported on Tuesday.
The ever-increasing remittances are now the biggest support to the economy which helps to reduce the huge trade deficit and dilute the impact of the current account deficits.
The State Bank reported that the overseas Pakistanis sent $1.649 billion in July which was 17.45 per cent higher than July 2014.
Pakistanis had sent $15.83bn in FY-14 which not only helped the country continue to payback the debt to IMF but supported the exchange rate to gain strength against the US dollar.
