Overseas Pakistani workers remit $4.7 billion in first quarter of FY17

KARACHI: Overseas Pakistani workers remitted US$4698.31 million in first three months (July to September) of FY17, compared with US $4965.81 million received during the same period in the preceding year.

During September 2016, the inflow of worker’s remittances amounted to US$1609.29 million, which is 8.60% lower than August 2016 and 9.34% lower than September 2015.

The country wise details for the month of September 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $437.87 million, US $361.89 million, US $210.82 million, US $210.18 million, US $182.16 million and US $43.6 million respectively compared with the inflow of US $ 483.21 million, US $428.13 million, US $ 260.43 million, US $233.27 million, US $201.34 million and US $33.31 million respectively in September 2015.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during September 2016 amounted to US $162.77 million together as against US $135.46 million received in September 2015, a State Bank of Pakistan press release said.