Overseas Pakistanis' Remittances jumps over 12% in five months
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Remittances from overseas Pakistanis jumped 12.5 per cent to 9.028 billion dollars in the first five months of this fiscal year.
According to latest report by the State Bank of Pakistan, remittances plunged by 19.6 percent to 1.609 billion dollars in November as compared to 2 billion dollars in October.
The data reveals that highest inflows during the first five months of this fiscal year came from Saudi Arabia amounting 2.152 billion dollars while United Arab Emirates closely followed with 1.95 billion dollars.
United States came in third, with inflows during the period 1.393 billion dollars.
On the other hand, remittances from Gulf Cooperation Council countries were 876 million dollars while those from the European Union edged up to 265 million dollars.
Currency experts believe the tightening of illegal money transactions are producing positive results as most of the inflows are now coming through banking channels. (Dawn)
