ISLAMABAD, Oct 12 (APP): The workers’ remittances sent by the overseas Pakistanis surged by 31.2 percent to $2.3 billion in September against same month of last year.
The remittances stood at above $2 billion for fourth consecutive month in September, said a statement issued by the State Bank of Pakistan (SBP).
On month on month basis, the remittances also witnessed an increase of 9 percent in September when compared to the inflow of $2.095 billion recorded during August this year.
The average inflow during first quarter of current fiscal year July-Sept (2020-21) also witnessed a sharp increase of 31.1 percent as it rose to $7.1 billion against $5.45 billion in same period of previous year.
The statement added that the level of remittances in September was slightly higher than SBP’s projections of $2 billion.
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 September, the worker’s inflow from USA stood at $180.35 million, while an amount of $289.3 million was sent from United Kingdom.
Similarly from Saudi Arabia, Dubai, Abu Dhabi, Sharjah, Bahrain, Kuwait, Qatar, and Oman, the workers’ inflow was recorded as $665.8 million, $364.1 million, $68.26 million, $68.68 million, and $86.04 million respectively.
From European countries, Pakistan received $207.33 million whereas from Malaysia, the Pakistanis sent $16.8 million from Australia $46.7 million, from Canada $39 million and from Japan, an amount of $7 million was transferred.