Business

Workers’ remittances rise by 14.6 pct in FY15 eight months

ISLAMABAD: The overseas workers remittances to Pakistan have registered an impressive growth of 14.6 per cent during the first eight months (July to February) of Fiscal Year 2015, ARY News has learnt.

According to details issued by State Bank of Pakistan (SBP), overseas Pakistani workers remitted $11, 750.50 million in first eight months as compared with $10, 248.17 million received during the same period of FY14.

During February 2015, the inflow of worker’s remittances amounted to $1,391.69 million, which is 1.06 per cent higher than January 2014 and 15.04 per cent higher than February 2014.

The country wise details for the month of February 2015 shows that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $453.40 million, $316.51 million, $179.03 million, $167.42 million, $166.26 million and $23.99 million respectively compared with the inflow of $368.76 million, $240.38 million, $184.60 million, $156.23 million, $144.92 million and $32.79 million respectively in February 2014.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during February 2015 amounted to $85.08 million together as against $82.09 million received in February 2014.

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