ISLAMABAD – The workers’ remittances witnessed a robust growth of 13.2percent during the first quarter of the current fiscal year (2018-19), withinflows crossing the 5 billion dollars mark in a quarter for the first time.
According to the first quarterly report by State Bank, the increase inremittances is more pronounced from the non-GCC (Gulf Cooperation Council)corridors, especially the United States and United Kingdom owing to manyfactors.
The official data revealed that increased economic activity in thedeveloped economies may have incentivized the Pakistani diaspora in thesecountries to remit more to their families.
In first quarter current of fiscal year, inflows from the GCC and theKingdom of Saudi Arabia grew by 4.0 percent and 2.8 percent.
Read Top Stories
The report added that the government remains committed to supporting theflow of remittances into the country. The government and SBP have alreadytaken various measures to support the inflow of remittances into thecountry.
