• Friday, June 18, 2021
India corona update 
Total Fatalities 383,490
Total Cases 29,762,793
Today's Fatalities 1,587
Today's Cases 62,480
India corona update 
Total Fatalities 383,490
Total Cases 29,762,793
Today's Fatalities 1,587
Today's Cases 62,480

Business

Pakistan’s overseas remittances exceed $2bn in March

A logo of the State Bank of Pakistan (SBP) at the head office in Karachi, REUTERS/Akhtar Soomro/File Photo

By: PramodThomas

REMITTANCES of $2.7 billion in March from Pakistani workers employed abroad exceeded $2bn for the 10th consecutive month, and were up 43 per cent from a year earlier, the central bank said on Monday (12).

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.”

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

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