Karachi: The State Bank of Pakistan (SBP) on Thursday (March 10) released statistics on cash inflows which revealed a USD 20.1 billion influx from non-resident Pakistanis (NRPs), news sources reported.
The inflow is 7.6% higher than the same period last year when USD 18.7 billion was received in the first eight months of 2021 (8MFY21). Reportedly, the remittances are 2.7 % lower in February 2022 when compared with the same month last year. However, the inflows recorded in February are 2% higher than in January 2022.
According to central bank projections, the government would receive a total inflow of USD 30 billion by the end of the fiscal year. The sum will be more than the revenues from the country’s industrial sector’s exports. However, it was also projected that the continuing market volatility and surging gasoline costs might result in a more significant Current Account Deficit (CAD) in the coming months.
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