Overseas remittances grow by 10pc: SBP

KARACHI: Overseas Pakistanis remitted an amount of $ 1.204 billion in July 2012 showing an impressive growth of 9.89 percent or $108.40 million when compared with $1.096 billion received during the same month of the last fiscal year (FY12).

According to SBP here Monday, the inflow of remittances during July 2012 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $349.66million, $240.54 million, $215.30 million, $148.49 million, $140.36million and $30.83 million respectively compared with the inflow of$291.83 million, $257.65 million, $194.87 million, $118.55 million,$116.45 million and $32.59 million respectively in July 2011.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the last month amounted to $79.53million as against $84.37 million received in the same month of the last fiscal year (FY12).