Business

KARACHI (APP) – Overseas Pakistani workers remitted $12714.57 million in the first eight months (July to February) of
FY16, showing a growth of 6.07% compared with US $ 11986.44 million received during the same period in the preceding year.

During February 2016, the inflow of worker’s remittances amounted to $1516.39 million, which is 3.65% higher than January 2016 and 6.74% higher than February 2015, a report issued by State Bank of Pakistan said here on Thursday.

The country wise details for the month of January 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $ 471.94 million, $317.12 million, $212.19 million, $174.66 million, $191.75 million and $28.48 million respectively compared with the inflow of $453.41 million, $319.1 million, $189.63 million, $180.02 million, $168.22 million and $24.17 million respectively in February 2015.

Remittances received from Norway, Switzerland, Australia,Canada, Japan and other countries during February 2016 amounted to $120.25 million together as against US $85.99 million received in February 2015.