Overseas Pakistanis remit $4.8bn in first 3 months of FY18

[Salman]

KARACHI: The overseas Pakistani workers remitted $ 4,790.01 million in the first three months, July to September, of the fiscal year 2018 (FY18), compared with $ 4,740.37 million received during the same period in the preceding year.

A State Bank of Pakistan (SBP) statement here on Tuesday said that during September 2017, the inflow of workers’ remittances amounted to $ 1,293.88 million, which is 33.79 per cent lower than August 2017 and 19.75 per cent lower than September 2016.

The country-wise details for the month of September 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $ 308.05 million, $ 302.77 million, $ 171.9 million, $ 194.76 million, $ 141.02 million and $ 45.07 million respectively compared with the inflow of $ 437.87 million, $ 361.9 million, $ 211.14 million, $ 210.22 million, $ 182.18 million and $ 43.60 million respectively in September 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during September 2017 amounted to $ 130.31 million together as against US dollars $ 165.45 million received in September 2016.