Worker’s remittances surge 16.2% in December

Worker's remittances surge 16.2% in December

ISLAMABAD, Jan 8 (APP):The workers’ remittances sent by the overseas Pakistanis surged by 16.2 percent to 2.44 billion in December 2020 against same month of last year when the remittances inflow was recorded at $2.1 billion.

“Remittances from overseas Pakistanis rose further to $2.4 bln in December compared to December 2019 and 4.2 percent over November 2020,” said State Bank of Pakistan said on its official twitter account.

For the first six months of this fiscal year, remittances reached $14.2 billion and have risen 24.9 percent over last fiscal year.

Efforts under the Pakistan Remittances Initiative (PRI) and the gradual re-opening of major host destinations such as Middle East, Europe and United States contributed to the sustained increase in workers’ remittances.

The details show that in December, the worker’s inflow from USA increased from $159.2 million last year to $203.2 million in the same month of 2020, whereas from United Kingdom the inflow also surged to $326.9 million from $229 million in December 2019.

Similarly from Saudi Arabia the workers’ remittances also rose from $577 million to 624.8 million while that from Dubai, Abu Dhabi, Sharjah, Bahrain, Kuwait, Qatar, and Oman, the workers’ inflow also rose to $456.6 million, $51 million, $5.5 million, $40 million, $64 million and $89 million respectively.

The workers’ remittances from European countries also jumped to $246 million in December 2020 compared to the inflow worth of $150 million in December 2019 and $219 million in November 2020.

Likewise from Malaysia, the Pakistanis sent $16.8 million, from Australia $57.2 million, from Canada $47.9 million and from Japan, an amount of $7.9 million was transferred.

By Najam ul Hassan

Najam ul Hassan is a Sr. Reporter who reports on Prime Minister, President, Foreign Office, and special assignments.

APP Services