The Overseas Pakistani workers sent three-month high remittances worth $1.74 billion in March 2019 against $1.803 billion in the same month in 2018.
Islamabad (Pakistan Point News – 11th April, 2019) The Overseas Pakistanis continue to contribute in the national economy as remittances showed an increase of 8.74 percent in the first nine months of the ongoing fiscal year.
According to a report by State Bank of Pakistan, the Overseas Pakistani workers sent three-month high remittances worth $1.74 billion in March 2019 against $1.803 billion in the same month in 2018.
The remittances from Overseas Pakistani workers have increased to $16.096 billion in the first nine months of fiscal year 2018-19 as compared to $14.802 billion in the same period of last fiscal.
The country received $3.747 billion from Saudi Arabia in period under review, compared to $3.690 billion last year, whereas remittances from the United Arab Emirates rose 4.18 percent to $3.414 billion.
A major push came after inflows from United States jumped 23.58 percent to $2.516 billion, while influxes from the United Kingdom reached $2.475 billion in July-March FY19, compared with $2.117 billion a year ago.
The central bank expects remittances to hit $20.5-21.5 billion in FY19. Remittances rose to $21.2 billion in last year from $19.6 billion in previous year.
