Karachi: Remittances from overseas Pakistanis recorded an increase of 12% in the last seven months, a news source reported. Reportedly, this hike comes as a result of the efforts undertaken by the government to encourage higher remittance inflows from the said group.
Recent reports indicate an uptrend from different parts of the world.
Following the 12% increase, the remittance count has reached up to $12.7 billion. The figure was recorded at $11.38 billion during the same time period last year.
To encourage remittances, the government depreciated the rupee by 32% against the US Dollar in the last 14 months – in the inter-bank market.
This measure, as per the executive, was aimed at boosting exports and reducing imports. It is expected to cut down the current account deficit, while increasing worker remittances.
The government has also increased the incentive to PKR 2, on the receipt of each dollar received in remittances as airtime.
