International Remittances Are on Constant Decline

[Musafir123]

State Bank of Pakistan says that Overseas Pakistani workers remittances declined by US$ 313.34 million in first eight months (July to February) of FY17.


Overseas Pakistani workers remitted US$ 12,363.3 million from July 2016 till February 2017, compared with US$ 12,676.64 million received during the same period in the preceding year.


During February 2017, the inflow of workers remittances amounted to US$ 1,416.92 million, which is 4.7% lower than January 2017 and 6.9% less than February 2016.


The country wise details for the month of February 2017 are as following:


Saudi Arabia: US$ 404.39 (US$ 475.07 million in Feb 16)
UAE: US$ 320.24 million (US$ 320.37 million in Feb 16)
USA: US$ 177.76 million (US$ 182.17 million in Feb 16)
UK: US$ 170.55 million: US$ 168.2 million (US$ 179.65 million in Feb 16)
GCC countries (including Bahrain, Kuwait, Qatar and Oman): US$ 168.2 million (US$ 197.63 million in Feb 16)
EU: US$ 31.7 million (US$ 35.37 million in Feb 16)


Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during February 2017 amounted to US$144.08 million together as against US$131.66 million received in February 2016.

Source link: https://propakistani.pk/2017/03/10/international-remittances-constant-decline/

 

[arafay]

Due to low oil price many GCC countries are feeling the heat and have laid off thousands of foreign workers.

 

[Farooq Ahmad]

***** I send remittance through legal way even then Income tax department harass me and asked for under table tip to wind up demand of tax ***** Now i will not use legal way ** Coz in Rome do as romans do **** Hundi Zindabad