ISLAMABAD, Mar 11 (NNN-APP) – Remittances sent by overseas Pakistani workers increased by 4.9 percent in Feb, on a month-on-month basis, the State Bank of Pakistan said.
The workers’ remittances recorded an inflow of 1.987 billion U.S. dollars in Feb, as compared to the previous month’s figure of 1.894 billion dollars, the central bank said, based on its official data yesterday, adding that, it decreased by 9.5 percent on a year-on-year basis.
With a cumulative inflow of 17.994 billion dollars during the Jul-Feb period, in the fiscal year of 2023, the remittances decreased by 10.8 percent, as compared to the same period last year, the figures showed.
Last month, the remittances mainly came from Saudi Arabia, with 454.6 million dollars, the United Arab Emirates, with 324 million dollars, Britain with 317 million dollars, and the United States with 219.4 million dollars, according to the bank.
Workers’ remittances play an important role in Pakistan’s economy, as they are one of the major sources of foreign exchange.– NNN-APP
