| GEO Business|
| Remittances up 19.4pc in 10 months: SBP|
| Updated at: 0902 PST, Tuesday, May 12, 2009|
KARACHI: Remittances home by overseas Pakistanis during the last 10 months of the current fiscal year recorded a surge by 19.4 percent.
State Bank of Pakistan (SBP) released handout said that the overseas Pakistanis during July-April sent home $6.35 billion through the banking system as against $5.31 billion in the same period previous year. Thus, the foreign remittances recorded a substtantial rise of $1.3 billion.
In April alone, $697.5 million was received through the banking system, which as compared to the last fiscal year higher by 18 percent.
U.S., Saudi Arab and United Arab Emirates were prominent countries in respect of the remittances received from expatriate Pakistanis.