Remittance from overseas Pakistanis in first 10 months of the current fiscal year recorded a growth of $178 million after inflows from the US, Saudi Arabia, UK and GCC countries improved sharply.
Pakistan received $3,629.68 million as workers' remittances during the first 10 months of the current fiscal year as against $3,451.51 million received in the corresponding period last year registering an increase of $178.17 million or 5.16 percent. The amount of $3,629.68 million includes $10.81 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs), said the State Bank of Pakistan in a faxed statement on Wednesday.
Pakistani workers remitted $401.47 million during last month as against $401.00 million in the same period last year, depicting a slight increase of $0.47 million or 0.12 percent.
The inflow of remittances during the first 10 months of the current fiscal year from US, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $994.78 million, $584.64 million, $555.84 million, $477.30 million, $346.40 million, and $97.06 million, respectively as compared to $1, 076.22 million, $506.22 million, $580.87 million, $425.95 million, $309.99 million, and $83.25 million during the corresponding period last year.
Remittances received from Canada, Australia, Norway, Switzerland, Japan and other countries during July 2005 - April, 2006 amounted to $562.85 million as compared to $457.27 million in the corresponding period last year.
The monthly average remittances for the period July 2005 - April, 2006 come to $362.97 million as compared to $345.15 million during the same period last year.
The inflow of remittances into Pakistan from most countries of the world increased last month as compared to April 2005.
According to the break-up, Pakistan received workers' remittances during April 2006 from US ($101.24 million), Saudi Arabia ($69.05 million), UAE ($64.59 million), GCC countries, including Bahrain, Kuwait, Qatar and Oman ($47.98 million), UK ($41.05 million), and EU countries ($9.44 million) as compared to the corresponding receipts from the respective countries during the same month last ie $121.04 million, $57.26 million, $73.04 million, $43.80 million, $39.61 million, and $11.16 million.
Remittances received from Canada, Australia, Norway, Switzerland, Japan, and other countries during April 2006 amounted to $68 million as compared to $47.7 million during the same month last year.
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