The State Bank of Pakistan (SBP) issued a report on Friday that the remittances during the first 11 months of the outgoing fiscal year have crossed $28 billion which is the highest ever. A 6.3 percent increase in remittances compared to the same period of the last fiscal year is a positive sign for the growth of Pakistan. The worker's remittances have been over USD 2 billion continually since June 2020. The $ 2.80 billion for the month of March 2022 has been the highest in the 11 months of the outgoing fiscal year.
As per details the $7.09b from KSA is the highest figure of inflows. The remittances from the United Kingdom in the ongoing fiscal year remained at $4.025 billion showing an increase of 15 percent an n inflow of $ 2,8 billion from the USA was also recorded that showing an increase of 8 percent. However, the remittances in May remained much lower compared with the preceding month as well as the same month of the last fiscal year mainly because of the post-Eid decline that usually happens. KARACHI: Pakistan received a record over $28 billion in remittances during the first 11 months of the outgoing fiscal year, showing an increase of 6.3 percent over the same period last year.