Overseas Pakistanis remit $7.4 billion in first four months of FY19

[webnise]

KARACHI: Overseas Pakistani workers remitted $7419.98 million in the first four months (July to October) of FY19, compared with $6,444.46 million received during the same period in the preceding year.

During October 2018, the inflow of worker’s remittances amounted to $2000.47 million, which is 37.7% higher than September 2018 and 20.9% higher than October 2017.

The country wise details for the month of October 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $494.53 million, $412 million, $308.78 million, $298.80 million, $198.30 million and $57.36 million respectively compared with the inflow of $461.07 million, $333.57 million, $215.64 million, $270.46 million, $184.76 million and $51.12 million respectively in October 2017.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during October 2018 amounted to $230.68 million together as against $137.83 million received in October 2017.

Source

 

[Skeptic]

WTH FY19 ?? HOW COME??? DIDN'T GET IT

 

[webnise]

WTH FY19 ?? HOW COME??? DIDN'T GET IT

Pakistan's FY runs from 1 July 2018 and ending on 30 June 2019 for FY 2018-19

 

[Future4Unity]

There is nothing contributed with 220 million inside PAkistans populations yet all work done is by overseas Pakistanis ...and ofcourse our famous corrupted walls leaders 99% work progress inside pakistan!!!

 

[Ali-NZ]

Shahyaar Afridi should make special assistance counters for overseas Pakistanis at all international airports to help and support them.

 

[Nightcrawl]

Nice

 

[Adnan Amjad]

Ppl trust khan with their money

 

[!n5aNiTy]

Finance ministry is starting a new scheme with NBP, where a worker will open account in nbp before leaving the country.. this way he will send money back through banking channels.

 

[iftikharalam]

Pakistan's yearly foreign remittance is around USD 20 billion, that Pakistan can easily increase to USD 25 billion a year in next couple of years, and around USD 30 billion a year in next 4-5 years. This can relieve the pressure on Pakistan with more dollars in foreign reserves.

It is good to see it is touching USD 2 billion every month. This way, USD 24 billion is guaranteed by the end of the year around USD 24-25 billion, a 20% increase.