Pakistan sees remittances over $2b for 10th consecutive month

The State Bank of Pakistan on Monday noted that  Pakistan, with an increase of 26%, has reported a record run of above $2 billion in remittances for the 10th consecutive month in March.

The central bank on Twitter said that at $2.7b, the remittances were up 20% compared to February and 43% compared to March 20. 

"Cumulatively, the remittances have risen to $21.5bn during July-March FY21, up 26% over the same period last year,"  SB said in a tweet.

PM  Imran thanks  overseas citizens for their 'unparalleled   love'

Prime Minister Imran Khan appreciated Pakistanis living abroad for their "unparalleled love and commitment for the country", thanking them for their support in the development of the country.

"You sent over $2bn for 10 straight mths despite Covid, breaking all records. Your remittances rose to $2.7bn in March, 43% higher than last year," the premier wrote on Twitter.

Pakistan had reported a 24.2% jump in February in remittances. 

The development came after the government rolled out incentives that attracted people abroad to send more money home through formal channels.

The remittances continued exceptional performance and remained above $2 billion for the tenth consecutive month in March.