Updated on
Summary
Pakistani overseas have sent 4.43 billion of dollars remittances to the country during the last five months.According to the report released by SBP, 1.4 billions dollars were received from UAE and that was the highest amount and 84 million of dollars were received from USA. The report further said, in November 2010, an amount of $926.89 million was sent, while in August 2010, an amount of $933.06 million was received as remittances. State Bank of Pakistan, Ministry of Finance and Ministry of Overseas Pakistanis had undertaken a joint initiative called Pakistan Remittance Initiative (PRI) with a view to facilitating the flow of remittances through formal channels. Pakistan has been reported as a top nation which has shown the highest growth in the world in remittances despite global financial crisis.
