There might be an error in the report’s dates.
Home remittances rise to $3.066bn during 1H
Friday, January 18, 2008
KARACHI: Remittances sent home by overseas Pakistanis continued to rise, as $3.066 billion were received in the first half (July-December 2007) of the current fiscal year, showing an increase of $498.31 million or 19.40 percent over the same period of the last fiscal year, State Bank report here on Thursday said.
The monthly average remittances stood at $511.06 million compared to $428.00 million during the corresponding period of the last fiscal year. The remittances also included $ 1.12 million received through encashment and profits earned on Foreign Exchange Bearer Certificates (FEBC) and Foreign Currency Bearer Certificates (FCBC). The inflow of remittances from USA, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $874.21 million, $563.06 million, $500.33 million, $457.21 million, $227.23 million and $88.99 million, respectively comparing $659.27 million, $483.32 million, $397.03 million, $358.58 million, $218.67 million and $74.89 million, respectively during July-December 2006.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries amounted to $354.18 million as against $374.92 million in the same period last year.
During December 2007, Pakistani workers remitted an amount of $479.26 million, up $4.05 million or 0.85% when compared with $475.21 million sent home in December 2006.
The remittances from most of the countries of the world increased last month compared to December 2006. 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 $140.45 million, $81.25 million, $77.33 million, $77.21 million, $29.82 million and $12.90 million, respectively against $125.81 million, $84.33 million, $78.91 million, $67.11 million, $38.57 million and $12.32 million received from these countries in December 2006. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during December 2007 amounted to $60.15 million compared to $67.99 million during December 2006. staff report
And oh, the list doesn’t include supporters of the Pakistani Plunder Party as they were busy shifting money out of Pakistan into Switzerland.