Remittances increased by 43%, volume exceeded 21 21.5 billion
KARACHI: The volume of remittances received by Pakistanis abroad during the current financial year has exceeded Rs 21 billion, which is 43 percent more than the same period of the previous financial year.
According to a statement issued by the State Bank of Pakistan, remittances for the tenth consecutive month in March stood at more than 2 2 billion. In March, remittances from Pakistanis abroad amounted to more than ارب 2.7 billion. That’s 20 percent more than in February 2021 and 43 percent more than March 2020.
According to the central bank, the volume of remittances during July-March 2021 has exceeded ارب 21.5 billion. Most remittances from July to March 2021 came from Saudi Arabia, the UAE, the UK and the US. Encouragement of the nation by the government and the SBP through regular channels, proactive banking measures, restricted travel due to the Corona epidemic and market stabilization are the reasons for the increase in remittances.