Remittances to Pakistan exceed $2 billion for 10th straight month

Reuters
Islamabad, Pakistan Published: Apr 12, 2021, 11:46 AM(IST)

A trader counts Pakistani rupee notes at a currency exchange booth in Peshawar, Pakistan Photograph:( Reuters )

Story highlights

The inflows came mainly from Saudi Araba, standing at $5.7 billion

Remittances of $2.7 billion in March from Pakistani workers employed abroad exceeded $2 billion for the 10th consecutive month and were up 43 per cent from a year earlier, the central bank said on Monday.

Proactive policy steps by the government and State Bank to spur inflows through formal channels, combined with limited cross-border travel, medical expenses, and altruistic transfers amid the pandemic to fuel the rise, it said in a statement.

"The love and commitment of overseas Pakistanis to Pakistan is unparalleled," Prime Minister Imran Khan said on Twitter.

"You sent over $2 billion for 10 straight months despite COVID, breaking all records. We thank you."

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The inflows came mainly from the nations of Saudi Arabia, standing at $5.7 billion; the United Arab Emirates, at $4.5 billion; with $2.9 billion from Britain and $1.9 billion from the United States, the central bank said.

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