Pakistan foreign remittance from overseas register significant growth

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Pakistan foreign remittance from overseas register significant growth

ISLAMABAD - Pakistan foreign exchange remittances in October by overseas Pakistanis show a record 37.7 per cent growth when compared to the remittances sent in September 2018.

According to the State Bank of Pakistan (SBP), overseas Pakistanis sent an amount of $2 billion to various cities of Pakistan through the banking channels in the month of October.

This is the second time this year the inflows surpassed the level of $2 billion in a single month throughout the history of the country.

Previously, remittances grew to record $2 billion in August mainly due to the sacrificial occasion of Eid-ul-Azha and its related festivities that attracted money from Pakistanis living in different foreign countries.