KARACHI: Overseas Pakistani workers have remitted an amount of $ 14.333 billion in the eleven months of the current fiscal year against $ 12.755 billion received during the same period of previous fiscal year.
Remittances have increased this FY by 12.37 per cent. According to State Bank of Pakistan, the inflow of remittances from July 2013 to May 2014 mainly came from Saudi Arabia, United Arab Emirates, United States of America, United Kingdom, countries of Gulf Cooperation Council (including Bahrain, Kuwait, Qatar and Oman), and European Union countries amounting to $ 4,257.5 million, $ 2,813.8 million, $ 2,241.8 million, $ 1,979.3 million, $ 1,691.4 million and $ 394.3 million respectively.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first eleven months of current fiscal year amounted to $ 954.77 million.
During the eleventh month of FY 2013-14, over $ 1.438 million were received from foreign countries. In May 2014, the inflow of remittances from S Arabia, UAE, USA, UK, GCC countries and EU countries amounted to $ 451.1 million, $ 290.91 million, $ 214.74 million, $ 181.04 million, $ 164.01 million and $ 39.06 million respectively. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during May 2014 amounted to $ 97.46 million.
