Overseas Pakistani workers remit $14 bln in first 9 months of FY17

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KARACHI, Apr 12: The Overseas Pakistani workers have remitted US$ 14,057.67 million in first nine months-July to March, of the fiscal year 2017-FY17, compared with US$ 14,387.79 million received during the same period in the preceding year.

A statement issued here on Monday by the State Bank of Pakistan (SBP) said that during March 2017, the inflow of workers’ remittances amounted to US$ 1,694.37 million, which is 19.58% higher than February 2017 and 1% less than March 2016.

It said that the country wise details for the month of March 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 504.6 million, US$ 363.24 million, US$ 213.29 million, US$ 209.14 million, US$ 197.21 million and US$ 38.85 million respectively compared with the inflow of US$ 514.8 million, US$ 396.35 million, US$ 202.73 million, US$ 202.37 million, US$ 212.47 million and US$ 26.61 million respectively in March 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during March 2017 amounted to US$ 168.04 million together as against US$ 155.82 million received in March 2016, the SBP statement further pointed out.

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