Workers' remittances rise over 6pc

KARACHI: The overseas Pakistani workers remitted an amount of $ 5275.61 million in the first four months (July-October) of the current fiscal year 2013-14 (FY14), showing a growth of 6.27 percent when compared with $ 4964.21 million received during the same period of last fiscal year (July-October FY13).

According to State Bank of Pakistan (SBP) here on Monday, the inflow of remittances in July- October FY14 from Saudi Arabia, UAE, USA, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $ 1459.63 million, $ 1060.93 million, $ 850.05 million, $ 807.63 million, $ 604.46 million and $ 149.30 million respectively as compared with the inflow of $ 1308.61 million, $ 1046.83 million, $ 841.28 million, $ 697.33 million, $ 559.51 million and $ 134.53 million respectively in July- October FY13.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first four months of current fiscal year amounted to $ 343.61 million as against $ 376.12 million received in the first four months of last fiscal year.

In October 2013, the inflow of remittances from Saudi Arabia, UAE, USA, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $ 353.46 million, $ 276.48 million, $ 225.25 million, $197.08 million, $ 157.32 million and $ 40.11 million respectively as compared with the inflow of $ 347.52 million, $ 293.74 million, $ 217.56 million, $ 197.18 million, $ 163.37 million and $ 37.48 million respectively in October, 2012.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during October 2013 amounted to $ 97.97 million.