Karachi: Remittances to Pakistan by overseas Pakistanis have increased, with the inflow standing at $11.4 billion for the first half of Fiscal Year 2017-18, as stated by State Bank of Pakistan’s report on 12th February, 2018.
The report went in detail to show that remittances have grown by 3.55%, in comparison to last fiscal year. In the same period of the previous fiscal year, the growth had declined by 1.45%.
The largest contribution to this growth has been from the United States, United Kingdom and European Union countries. Further analysis showed that the highest growth in remittances was from UK, while remittances from Saudi Arabia have observed the sharpest decline. Remittances from GCC countries have decreased by 2% to $1.314 billion.
