Pakistan’s remittances grow by over 13 percent in Q1

Karachi, Pakistan (BBN)- Remittances from expatriate Pakistanis recorded a growth of 13.5 percent to reach $2.646 billion during the first quarter (Q1) of the current fiscal year.

Chief Spokesman of the State Bank of Pakistan (SBP), the country’s central bank, Syed Wasimuddin reportedly said that the flow of remittances continued to show a rising trend as an increased amount of $314.8 million was received during the quarter against $2.331 billion during the same quarter last year.
The monthly average of inward remittances for the July-September period of this fiscal come out to be $882.10 million against $777.17 million in the same period of the previous fiscal, registering an increase of 13.5 percent, the SBP data showed.

In September this year, $922.06 million was sent home by the overseas Pakistanis, up by 14.38 percent, or $115.94 million against $806.12 million received in the same month last year.

BBN/SSR/SI-13Oct10-1:29 pm (BST) 

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