Summary The remittances have risen to $10.6bn so far in FY22
ISLAMABAD (Dunya News) – Federal Minister of State for Information and Broadcasting Farrukh Habib has said remittances sent by overseas Pakistanis reached 10.6 billion dollars during the first four months of current fiscal year.
In a tweet on Monday, he said the remittances are twelve percent higher as compared to the corresponding period of last year and sixty three percent higher than the first four months of 2018 fiscal year.
A day earlier, State Bank of Pakistan (SBP), in a tweet on Sunday, said that Pakistan’s remittance continued to rise after about $2.5 billion were deposited in October, showing a Year on Year (YoY) increase of over 10 percent.
Cumulatively, the remittances have risen to $10.6bn so far in FY22, up 12% over the same period last year.
SBP further said that in addition to remaining above $2 billion since June 2020, this is the eighth consecutive month when remittances have been close to or above $2.5 billion.
Remittance inflows during the first four months of FY22 have mainly been sourced from Saudi Arabia ($ 2.7 billion), UAE ($ 2.0 billion), UK ($ 1.5 billion) and USA ($ 1.1 billion).
