Karachi: Pakistan received 13% more remittances during the first quarter of the fiscal year 2018-19 as remittances rose to USD 5.4 billion, a news source reported. Inflows have been higher from all countries except from the Gulf.
However, in September, the remittances were a low USD 1.452 billion, as compared to August when the remittances had been USD 2.03 billion. Remittances are critical for Pakistan’s current account deficit.
Remittances from Saudi Arabia grew by 2.85% and Pakistan received USD 1.263 billion from Saudi Arabia. The second highest remittances, USD 1.196 billion, were sent from the UAE, increasing by 10.95% in the first quarter.
