SBP says Pakistan's remittances remained over $2b for 8th consecutive month

• PM Imran Khan thanks overseas Pakistanis for the "record" remittances
• SBP says that remittances were "marginally lower" than what was reported in Dec 2020
• PM shares "good news" regarding sustained growth in industrial sector

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KARACHI: The State Bank of Pakistan (SBP) announced on Monday that the remittances remained above $2 billion for 8th straight month as during the corresponding month, the inflow was recorded at $2.3 billion as compared to the inflow of $1.907 billion in January 2020.

"In January 21, remittances remained above $2bn for 8th straight month. At $2.3bn, they are 19% higher than in January 20 and marginally lower than in December 20," said the SBP. 

As per the SBP data, the highest amount of remittances came from the overseas Pakistanis in Saudi Arabia, with data showing that the country had received $553.6 million from there. 

Following the SBP's release of data, PM Imran Khan thanked the overseas Pakistanis for ensuring that the country reported remittances over $2 billion for the eighth consecutive month.

"Remittances from overseas Pakistanis were $2.27 bn in January, up 19% over Jan 2020 — 8th consecutive month of remittances above $2b," said PM Khan minutes after the State Bank of Pakistan shared the news.

PM Khan said so far the remittances of the country in the ongoing fiscal are up 24% compared to last year.

"This is a record for our country and I thank our overseas Pakistanis," he said.

In the same thread, the PM shared the "good news" regarding the "sustained growth" shown in the industrial sector.

"Large scale manufacturing saw another double digit growth month in December 2020 — 11.4% growth vs Dec 2019. Cumulative July to Dec growth above 8% now," he wrote.