'Alhamdulillah': PM says remittances rose 31% in first 2 months of fiscal year

ISLAMABAD: Prime Minister Imran Khan said on Monday the country recorded an increase of 31 per cent in remittances in the first two months of current fiscal year as compared to last year’s the same period.

Taking to Twitter, the prime minister said overseas Pakistanis sent $2.095 billion in remittances during the month of August this year which is 24.4 per cent higher than the corresponding period last year. He added the country received record $2.768 billion dollars in remittances in the month of July this year.

Read More: Remittances hit record high of $2.76bn in July: SBP

“For the first two months of this fiscal year our remittances are up 31% over the same period last year. Alhamdulillah,” he said.

Overseas Pakistanis sent $2,095 million in remittances in Aug 2020 — 24.4% higher than Aug. last year — in addition to the record $2,768 million in July 2020. For the first two months of this fiscal year our remittances are up 31% over the same period last year. Alhamdulillah

— Imran Khan (@ImranKhanPTI) September 14, 2020

On Aug 24, Prime Minister Khan had shared the latest data on the country’s current account balance saying it posted a surplus of $424 million in July 2020.

Read More: Country’s current account posted surplus of $424 million in July: PM Imran Khan

“MashaAllah Pakistan’s economy is on the right track. After current account balance posted deficit of $613 mn in July 2019 & a deficit of $100 mn in June 2020, in July 2020 current account balance swung upwards to a surplus of $424 mn,” he tweeted.