Image default

Overseas Pakistanis remit US $1.32b in first FY17 month

ISLAMABAD: Overseas Pakistani workers remitted US $ 1328.18 million in the first month (July) of Financial Year FY17 as compared to US $ 1663.61 million received during the same period in the preceding year.

During July 2016, the inflow of worker’s remittances amounted to US $ 1328.18 million, which is 36% less than June 2016 and 20.16% less than July 2015, a statement of the State Bank of Pakistan issued here Wednesday said.

The SBP said country wise details for the month of July 2016, show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries were amounted to US $ 378.69  million, US $ 293.72 million, US $ 169.68 million, US $ 143.61 million, US $ 169.61 million and US $ 35.74 million respectively as compared to the inflow of US $ 474.42 million, US $ 367.51 million, US $ 255.32 million, US $ 232.33 million, US $ 197.86 million and US $ 32.5 million respectively in July 2015.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during July 2016, were amounted to US $137.13 million together as against US $103.67 million received in July 2015. –APP