Foreign remittances in 1st QR of CFY rise by 25pc

KARACHI: Overseas expatriates’ remittances to their homeland during the first quarter of the current fiscal year surged by 25 percent, according to the State Bank, Geo News reported.

State Bank of Pakistan (SBP)’s available statistics stated that the overseas Pakistanis during July-September remitted home $3.29 billion through banking system, which as compared to the previous year’s same period remittances works out to 25 percent high.

SBP further said that overseas Pakistanis remittances have been on the rise. Saudi Arabia, United Arab Emirates, U.S and Britain are the major countries from where the remittances were received.