Pakistani workers remitted $2637.27 million in first two months (July – August) of current fiscal year 2013‐14

Karachi, September 12, 2013 (PPI-OT): Overseas Pakistani workers remitted an amount of $2637.27 million in the first two months (July – August) of the current fiscal year 2013‐14 (FY14), showing a growth of 7.05 percent when compared with $2463.69 million received during the same period of last fiscal year (July- August FY13).

The inflow of remittances in July- August FY14 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $732.50 million, $506.78 million, $448.60 million, $419.74 million, $295.59 million and $74.97 million respectively as compared with the inflow of $657.78 million, $505.80 million, $446.61 million, $334.06 million, $274.09 million and $63.57 million respectively in July- August FY13. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first two months of current fiscal year amounted to $159.09 million as against $181.78 million received in the first two months of last fiscal year.

In August 2013, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $321.77 million, $254.37 million, $215.54 million, $197.81 million, $134.15 million and $36.38 million respectively as compared with the inflow of $308.12 million, $265.26 million, $231.31 million, $185.57 million, $133.73 million and $32.74 million respectively in August, 2012. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the second month of the current fiscal year (August FY14) amounted to $72.86 million.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk