In another positive development, Pakistan Foreign Remittances register rise in Jan 2020

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In another positive development, Pakistan Foreign Remittances register rise in Jan 2020

KARACHI: In another positive development, Pakistan Foreign Remittances register rise in Jan 2020.

Pakistani Overseas Remittances when compared with the $1.744 billion received in Jan last year increased by 9.3pc or $163.2 million in Jan 2020.

However, Overseas Pakistani workers remitted $1.9 billion in the month of January 2020, a drop of 9.9pc when compared with $2.09 billion worth remittances received in December 2019.

According to data released by the State Bank of Pakistan, workers’ remittances received during the first seven months of FY20 amounted to a cumulative total of $13.3 billion.

This is an increase of 4.1pc, or $528.1 million, over remittances received during July-January FY19, which stood at $12.74 billion.

When comparing remittances received during January 2020 and that received in December 2019, almost all countries witnessed a decline.

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