Remittances during first two months of current FY surges by 31%: PM Imran

Remittances during first two months of current FY surges by 31%: PM Imran

Islamabad (Web Desk): Prime Minister Imran Khan on Monday said that remittances sent back home by overseas Pakistanis increased by 31 percent during the first months of current fiscal year.


The premier said remittances of $2,095 million were received in August, which is an increase of 24.4pc.

According to the State Bank of Pakistan (SBP) statistics, overseas Pakistanis remitted $443.13 million from Dubai, $393.91 million from the United Kingdom, $250.6 million from the US, $88.29 million from Abu Dhabi and $4.69 million from Sharjah in July.

The remittances from other Gulf countries were recorded at $296.95 million, including $42,62 million from Bahrain, $69.83 million from Kuwait, $82.49 million from Qatar and $102 million from Oman. The SBP data, however. Showed a major decline in the remittances from US to $250.6 million in July from $451 million in June.

The remittances received from the European countries last month were $227.57 million. They included Germany $35.34 million, France $32.99 million, The Netherlands $4.5 million, Spain $38.9 million, Italy $49.46 million, Greece $20.01 million, Sweden $4.85 million, Denmark $6 million, Ireland $12.25 million, and Belgium $23,27 million.

Pakistan received $22.25 million from Malaysia, $10.91 million from Norway, $2.83 million from Switzerland, $52.11 million from Australia, $43.13 million from Canada and $9.31 million from Japan. The SBP stated that $98.82m were received from other countries, making it to a total of $2,768.13 million in July 2020. In June 2020, the total remittances received from these countries were $2,466.28 million.