Pakistan foreign remittances rise by near $2 billion under PTI government: Report

Pakistan foreign remittances rise by near $2 billion under PTI government: Report
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ISLAMABAD - The overseas Pakistani workers remitted $14.350 billion in the first eight months (July to February) of FY19, showing a growth of 11.82 percent as compared with the corresponding period of FY18.

During the eight months of FY18, the overseas Pakistani workers remitted $12.833 billion.

According to data issued by State Bank of Pakistan (SBP), during February 2019, the inflow of workers” remittances amounted to $1576.51 million, which is 9.56 percent lower than January 2019 and 8.71 percent higher than February 2018.

The country wise details for the month of February 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $370.04 million, $335.66 million, $240.80 million, $251.99 million, $152.25 million and $37.71 million respectively compared with the inflow of $348.31 million, $332.18 million, $207.27 million, $201.01 million, $149.4 million and $48.65 million respectively in February 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during February 2019 amounted to $188.06 million together as against $163.35 million received in February 2018.

Economy