LAHORE – As the global remittance flows tumble amid the coronaviruspandemic, remittance flow in South Asian countries increased and Pakistanis no exception, said a World Bank report.

According to the latest Migration and Development Brief published by theWorld Bank, the growth in the home remittances from Pakistanis workingabroad last year was much faster than 5.2 percent inflows to the SouthAsian countries.

The remittances of the south asian county rose by about 17 percent, withthe biggest growth coming from Saudi Arabia followed by the gulf andEuropean countries.

A number of international financial institutions including the World Bankhad predicted a plunge in remittance flows to Pakistan hinting at aparching of foreign exchange funds for the country. However, inflows haveseen an unusual spike against all the predictions.

Experts suggest that FATF-related restrictions, limited internationaltravel, and incentives offered by the central bank to overseas Pakistanishave driven growth in remittances in spite of the impacts of the Covid-19crisis. Roshan Digital Accounts, which recently crossed the $1 billionmark, has also helped attract more overseas.