This the positive contribution of disis living abroad:
Remittances rise to $5.31bn in 10 months
Remittances rise to $5.31bn in 10 months
Friday, May 16, 2008
By our correspondentKARACHI: Remittances sent home by overseas Pakistanis continued to show a rising trend as $5,319.08 million were received in the first 10 months (July-April) of fiscal year 2007-08 compared to $4,450.12 million in the same period last year, showing an increase of $868.96 million or 19.53 per cent.
According to the State Bank of Pakistan (SBP), the amount of $5,319.08 million includes $2.20 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).
The monthly average of remittances for the period July-April 2007-08 comes to $531.91 million as compared to $445.01 million during the corresponding period of the last fiscal year, registering an increase of 19.53 per cent.
The inflow of remittances in the July-April 2007-08 period from USA, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $1,463.73 million, $1,001.71 million, $907.52 million, $795.18 million, $379.03 million and $147.65 million, respectively as compared to $1,176.12 million, $827.60 million, $673.51 million, $609.88 million, $354.60 million and $123.08 million, respectively in the July-April 2006-07 period.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first 10 months of the current fiscal year amounted to $622.06 million as against $683.09 million in the same period last year.
During the last month (April 2008), Pakistani workers remitted an amount of $590.71 million, up $77.36 million or 15.07 per cent when compared to $513.35 million sent home in April 2007.
The inflow of remittances into Pakistan from almost all countries of the world increased last month as compared to April 2007. According to the break-up, remittances from USA, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $151.39 million, $119.76 million, $113.90 million, $90.91 million, $44.18 million and $16.52 million, respectively as compared to the corresponding receipts from the respective countries during April 2007, ie $141.43 million, $94.12 million, $77.53 million, $71.59 million, $35.35 million and $12.70 million.