Pakistani workers send home record $747 million in July

[Naveed Yaseen]

KARACHI: Pakistani workers sent home a record amount of $747.22 million in July this year, a jump of $120.01 million or 19.13% from $627.21 million that was received in the same month of last fiscal year. The previous record was set in March 2009, when $739.43 million was received in the country. Remittances from UAE, Saudi Arabia, USA, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $159.32 million, $151.17 million, $150.13 million, $107.63 million, $71.23 million and $26.04 million, respectively, compared with $100.10 million, $133.26 million, $168.39 million, $105.31 million, $42.04 million and $17.07 million, received in July last year. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during July 2009 stood at $81.56 million compared with $60.99 million during July 2008. The country received $7.811 billion as workers’ remittances in 2008-09, which beat the previous record of $6.451 billion set in 2007-08. The amount of $747.22 million includes $0.14 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs). staff report

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