{"id":10104,"date":"2021-05-18T12:37:14","date_gmt":"2021-05-18T12:37:14","guid":{"rendered":"https:\/\/pni.net.pk\/en\/?p=10104"},"modified":"2021-10-28T18:59:30","modified_gmt":"2021-10-28T13:59:30","slug":"remittances-grow-by-29-to-record-24-2-bln-in-10-months","status":"publish","type":"post","link":"https:\/\/pni.net.pk\/en\/latest-business-news\/remittances-grow-by-29-to-record-24-2-bln-in-10-months\/","title":{"rendered":"Remittances grow by 29 % to record $24.2 bln in 10 months"},"content":{"rendered":"

ISLAMABAD, The workers\u2019 remittances surpassed previous records, reaching to $24.2 billion during the first ten months of the current fiscal year, showing growth of 29 percent over the same period last year.<\/p>\n

The remittance during July-April (2020-21) also crossed the total remittances of the last fiscal year (2019-20) by over $1 billion, according to latest data released by the State Bank of Pakistan (SBP).<\/p>\n

During the month of April 2021, the workers\u2019 remittances rose to an all-time monthly high of $2.8 billion, 56 percent higher than the remittances of the same month last year.<\/p>\n

The remittance inflows during July-April (FY2020-21) were mainly sourced from Saudi Arabia ($6.4 billion), United Arab Emirates ($5.1 billion), United Kingdom ($3.3 billion) and the United States ($2.2 billion).<\/p>\n

Proactive policy measures by the government and SBP to encourage more inflows through formal channels, curtailed cross border travel in the face of COVID-19, altruistic transfers to Pakistan amid the pandemic, orderly foreign exchange market conditions and, more recently, Eid-related inflows have contributed to record levels of remittances this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD, The workers\u2019 remittances surpassed previous records, reaching to $24.2 billion during the first ten months of the current fiscal year, showing growth of 29 percent over the same period last year. The remittance during July-April (2020-21) also crossed the total remittances of the last […]<\/p>\n

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