Overseas Pakistanis remit $14 billion in first 9 months of FY17

KARACHI: The overseas Pakistani workers have remitted US$ 14,057.67 million in first nine months-July to 

March, of the fiscal year 2017-FY17, compared with US$ 14,387.79 million received during the same period in the preceding year.

A statement issued here on Monday by the State Bank of Pakistan (SBP) said that during March 2017, the inflow of workers' remittances amounted to US$ 1,694.37 million, which is 19.58% higher than February2017 and 1% less than March 2016.

It said that the country-wise details for the month of March 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries(including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 504.6 million, US$ 363.24 million, US$ 213.29 million, US$209.14 million, US$ 197.21 million and US$ 38.85 million, respectively compared with the inflow of  US$ 514.8 million, US$ 396.35 million, US$202.73 million, US$ 202.37 million, US$ 212.47 million and US$ 26.61million, respectively in March 2016.

Remittances received from Norway, Switzerland, Australia, Canada,Japan and other countries during March 2017 amounted to US$ 168.04 million together as against US$ 155.82 million received in March 2016,the SBP statement further pointed out.