Workers’ remittances rise 5.4%

KARACHI: Overseas Pakistani workers remitted US$ 3190.67 million in the first two months (July to August) of FY16, showing a growth of 5.42% compared with US $3026.63 million received during the same period in the preceding year.

During August 2015, the inflow of workers’ remittances amounted to US$1527.06 million, which is 8.21% higher than July 2015 and 13.04% higher than August 2014. The country-wise detail for the month of August 2015 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$483.29 million, US $319.15 million, US$199.57 million, US$206.29 million, US$193.75 million and US$27.75 million respectively compared with the inflow of US$396.9 million, US$286.69 million, US$212.94 million, US$176.19 million, US$153.85 million and US$33.33 million respectively in August 2014.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during August 2015 amounted to US $97.26 million together as against US $90.96 million received in August 2014.