KARACHI: The remittances sent by overseas Pakistanis registered a impressive growth of 23.24 percent or growth of $813.66 million to $4.315 billion in the July-October period of the current fiscal year as compared to $3.501 billion received during the same period of last fiscal year.
The remittances in July-October 2011 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $1.145 billion, $963.12 million, $795.35 million, $486.92 million, $486.15 million and $129.81 million respectively as compared with the inflow of $764.31 million, $819.57 million, $666.27 million, $393.24 million, $416.91 million and $117.07 million respectively in July-October 2010.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first four months of current fiscal year (July-October FY12) amounted to $308.34 million as against $324.03 million received in the first four months of last fiscal year (July- October 2010).
The monthly average remittances for the July-October 2011 period comes out to $1.078 billion as compared to $875.35 million during the same corresponding period of the last fiscal year, registering an increase of 23.24 percent.
In October 2011, $1.017 billion was sent home by overseas Pakistanis, up 19.03 percent when compared with $855.11 million received in the same month last year. Except for September 2011, overseas Pakistanis remitted over $1 billion in July and August of the current fiscal year (FY-2012).
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