Overseas Pakistani Workers’ remittances rise 5.2% to $6.5 bln in 4 months of FY16

KARACHI, Pakistan: Overseas Pakistani workers remitted dollars 6506.50 million in the first four months (July to October) of the fiscal year 2015-16.

It shows a growth of 5.21% compared with $ 6184.34 million received during the same period in the preceding year, said the state Bank of Pakistan (SBP) statement here on Tuesday.

During October 2015, the inflow of workers’ remittances amounted to dollars 1539.96 million, which is 13.28% higher than those of September 2015 and 9.28% higher than those of October 2014.

The country-wise details for the month of October 2015 show that inflows from Saudi Arabia, United Arab Emirates (UAE), United States of America, United Kingdom , GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $ 464.53 million, US $ 367.37 million, US $ 188.26 million, US $ 197.56 million, US $ 178.09 million and US $ 31.56 million respectively compared with the inflow of US $ 374.65 million, US $ 320.91 million, US $ 226.04 million, US $ 193.45 million, US $154.84 million and US $ 30.54 million respectively in October 2014.

The remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during October 2015 amounted to US $112.59 million together as against US $108.79 million received in October 2014.

Source: APP