Overseas Pakistanis remit $4.8bn in first 3 months of FY18

KARACHI: Overseas Pakistani workers remitted $4,790.01 million in the first three months (July to September) of fiscal year 2018 (FY18), compared with $4,740.37 million received during the same period in the preceding year, the State Bank of Pakistan (SBP) said in a statement.

The SBP said that during September 2017, the inflow of workers' remittances amounted to $1,293.88 million, which is 33.79 per cent lower than August 2017 and 19.75% lower than September 2016.

The country-wise details for the month of September 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $308.05 million, $ 302.77 million, $ 171.9million, $194.76 million, $141.02 million and $45.07 million respectively compared with the inflow of $437.87million, $361.9 million, $211.14 million, $210.22 million, $182.18 million and $43.60 million respectively in September 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during September 2017 amounted to $1,30.31 million together as against $165.45 million received in September 2016.