KARACHI – Remittances sent by overseas Pakistanis crossed $3 billion markfor the first time in the history of Pakistan, with the highestcontribution from Saudi Arabia and UAE.
“With US $3.1 billion inflows during April 2022, workers’ remittancescrossed $3 billion for the first time ever,” the State Bank of Pakistan(SBP) announced on Friday.
The remittances sent by Pakistani workers from abroad during April 2022increased by 11.2 percent on month-on-month basis and 11.9 percent onyear-on-year basis.
“Cumulatively, at $ 26.1 billion, remittances grew by 7.6 percent during 10months of FY22 compared to the same period last year,” the central bankadded.
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“Remittances’ inflows during April 2022 were mainly sourced from SaudiArabia ($707 million), United Arab Emirates ($614 million), United Kingdom($484 million) and the United States of America ($346 million),” read theSBP statement.
