Pakistanis send back record $29.4 bn in year
Published 14 Jul,2021 via Dawn KARACHI - Overseas Pakistanis remitted record $29.4 billion during 2020-21, helping the country meet its widening trade deficit and expected current account deficit in the last month of the just-ended fiscal year.
The central bank said that with inflows of around $2.7bn in June (9pc growth year-on-year) and 8pc (month-on-month), workers’ remittances continued their unprecedented streak of above $2bn for a record 13th consecutive month.
Data released by the State Bank of Pakistan (SBP) on Tuesday showed that remittances posted a 27 per cent year-on-year growth, which was the fastest rate of expansion since FY03.
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