Work­ers’ re­mit­tances rise 6pc to $11.2b in 7MFY16

The Pak Banker - - FRONT PAGE - Staff Reporter

Over­seas Pak­istani work­ers re­mit­ted $11198.18 mil­lion in the first seven months (July to Jan­uary) of FY16, show­ing a growth of 6pc com­pared with $10565.9 mil­lion re­ceived dur­ing the same pe­riod in the pre­ced­ing year.

Dur­ing Jan­uary 2016, the in­flow of worker's re­mit­tances amounted to US $ 1462.87 mil­lion, which is -10.64% lower than De­cem­ber 2015 and 4.21% higher than Jan­uary 2015. The coun­try wise de­tails for the month of Jan­uary 2016 show that in­flows from Saudi Ara­bia, UAE, USA, UK, GCC coun­tries (in­clud­ing Bahrain, Kuwait, Qatar and Oman) and EU coun­tries amounted to US $ 462.18 mil­lion, US $ 313.32 mil­lion, US $ 179.56 mil­lion, US $ 172.53 mil­lion, US $ 190.38 mil­lion and US $ 28.64 mil­lion re­spec­tively com­pared with the in­flow of US $ 452.81 mil­lion, US $ 289.79 mil­lion, US $ 197.39 mil­lion, US $ 178.4 mil­lion, US $ 162.31 mil­lion and US $ 25.85 mil­lion re­spec­tively in Jan­uary 2015.

Re­mit­tances re­ceived from Nor­way, Switzer­land, Aus­tralia, Canada, Ja­pan and other coun­tries dur­ing Jan­uary 2016 amounted to $116.26m to­gether as against US $97.19 mil­lion re­ceived in Jan­uary 2015.

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