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Friday Jan 08 2021

'Record-breaking month of remittances': PM Imran Khan thanks overseas Pakistanis

Prime Minister Imran Khan speaks at an event. Photo: AFP/file
  • PM Imran Khan thanks overseas Pakistanis for "record-breaking month of remittances"
  • Pakistan received $2.4bn in remittances during December
  • First time Pakistan's remittances have been above $2bn for six consecutive months, says PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan on Friday took to Twitter to thank overseas Pakistanis for a "record-breaking month of remittances", saying that the country received $2.4 billion in remittances during the month of December 2020. 

Read more: Pakistan's remittances remain above $2b for sixth consecutive month

"MashaAllah, 1st time in Pakistan remittances have been above $2 bn for 6 consecutive months," wrote the prime minister on Twitter. 

According to figures shared by the prime minister, the total number of remittances received during the past six months for the fiscal year amount to $14.2 bn. 

The prime minister said that Pakistan had witnessed a growth of 24.9% in remittances when compared to last year. 

"I want to thank our overseas Pakistanis for yet another record-breaking month of remittances in Dec: $2.4 bn. MashaAllah, 1st time in Pakistan remittances have been above $2 bn for 6 consecutive months. Total for 6 months of this fiscal year $14.2 bn - a 24.9% growth over last yr," he tweeted.

Pakistan's remittances in November 2020

Pakistan maintained a strong momentum in workers’ remittances for the sixth consecutive month in November with over $2billion, the State Bank of Pakistan (SBP) had reported last month.

Workers’ remittances increased 28.4% year-on-year in November 2020, pushing the cumulative flows to $11.8 billion during the July-November FY21 with a rise of 26.9% compared to same period last year, the SBP had said. 

“This significant growth reflects continued government and SBP efforts to formalise remittances under Pakistan Remittances Initiative (PRI), growing use of digital channels amid limited international travel, orderly exchange market conditions and improved global economic activity,” the central bank had said.