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Overseas Pakistani workers remit $19.3b in FY17

Overseas Pakistani workers remit $19.3b in FY17

KARACHI: The Overseas Pakistani workers remitted $19,303.58 million in the fiscal year 2017 (July to June), compared with $19,916.76 million received during the same period in the preceding year, a State Bank of Pakistan (SBP) statement said here on Monday.

It said that during June 2017, the inflow of workers’ remittances amounted to $1,839.96 million, which is 1.46% lower than May 2017 and 11.24% lower than June 2016.

The country wise details for the month of June 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $438.07 million, $414.22 million, $265.37 million, $252.46 million, $232.89 million and $56.97 million respectively compared with the inflow of $582.84 million, $434.9 million, $274.1 million, $309.27 million, $232.27 million and $50.33 million respectively in June 2016.Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during June 2017 amounted to $179.98 million together as against $189.37 million received in June 2016.