Worker’s remittances surge 31.2 in September

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ISLAMABAD: The workers’ remittances sent by the overseas Pakistanis surged by 31.2 percent to $2.3 billion in September against the same month of last year.

The remittances stood at above $2 billion for the fourth consecutive month in September, said a statement issued by the State Bank of Pakistan (SBP).
On month on month basis, the remittances also witnessed an increase of 9 percent in September when compared to the inflow of $2.095 billion recorded during August this year.

The average inflow during the first quarter of the current fiscal year July-Sept (2020-21) also witnessed a sharp increase of 31.1 percent as it rose to $7.1 billion against $5.45 billion in the same period of the previous year.

The statement added that the level of remittances in September was slightly higher than SBP’s projections of $2 billion.

Efforts under the Pakistan Remittances Initiative (PRI) and the gradual re-opening of major host destinations such as the Middle East, Europe, and the United States contributed to the sustained increase in workers’ remittances.
The details show that in September, the worker’s inflow from the USA stood at $180.35 million, while an amount of $289.3 million was sent from the United Kingdom.

Similarly, from Saudi Arabia, Dubai, Abu Dhabi, Sharjah, Bahrain, Kuwait, Qatar, and Oman, the workers’ inflow was recorded as $665.8 million, $364.1 million, $68.26 million, $68.68 million, and $86.04 million respectively.

From European countries, Pakistan received $207.33 million whereas from Malaysia, the Pakistanis sent $16.8 million from Australia $46.7 million, from Canada $39 million, and from Japan, an amount of $7 million was transferred.

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