Business

Overseas Pakistanis remit US $1.54 billion in July

FY18

KARACHI: Overseas Pakistani workers remitted US $ 213.49 more money (US $ 1541.67 million) in the first month of FY18 (July) in comparison with US $ 1328.18 million received during the same period in the last year.

During July 2017, the inflow of worker’s remittances amounted to $ 1541.67 million, which is 16.2% less than June 2017 and 16% more than July 2016, a statement issued by the State Bank of Pakistan (SBP) reads.

The country wise details for the month of July 2017 show that inflows from Saudi Arabia, UAE, USA, UK, Gulf Cooperation Council countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $ 408.84 million, $ 334.63 million, $ 193.7 million, $ 199.18 million, $ 192.02 million and $ 52.08 million respectively compared with the inflow of $ 378.69 million, $ 293.72 million, $ 169.68 million, $ 143.61 million, $ 169.61 million and $ 35.74 million respectively in July 2016, it added.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during July 2017 amounted to US $161.22 million together as against US $137.13 million received in July 2016, it said.

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