KARACHI: The country got $6.077 billion remittances from July to October this year as compared to $5.275 billion it received during the same period of last year, showing 15 per cent or $802 million growth.
According to the State Bank of Pakistan (SBP) report, the remittances in September were remained 33pc higher than the same month of fiscal year 2013-14. In October, the country received $1.383 billion remittances, showing an increase of just 2pc compared to the same month of the last year. However, the rising trend of remittances was noted from the traditional sources like Saudi Arabia and Gulf States.
The highest increase in the remittances was noted from United Arab Emirates (UAE) as the inflows shot up by 27 per cent in the first four months with a total amount of $1.350 billion.
Saudi Arabia emerged as the largest source of remittances with a total amount of $1.721billion, an increase of 18pc compared to the same four months of last year.
Remittances from United States and United Kingdom were $905m and $824m with an increase of 6pc and 2pc, respectively.
