ISLAMABAD, Jun 11 (APP): Finance Minister Shoukat Tarin on Friday said that the country recorded highest ever growth of 25 percent in remittances and $ 29 billion.
Presenting the budget in National Assembly, the Finance Minister said that the exceptional growth in workers’ remittances, which were poised to achieve the highest ever growth, was single most important factor turning current account into surplus.
“Government’s relentless efforts to tighten the informal channels of illegal Hundi and Hawala business has been the primary reason, together with further strengthening of Pakistan Remittance Initiative enabling transmission of remittances through banking channels, have led to this unprecedented increase in foreign remittances,” he said while highlighting the government’s initiatives to enhance remittances.
He said that the overseas Pakistanis had made a remarkable contribution in improving country’s external account demonstrating their trust on the leadership of Prime Minister Imran Khan.