ISLAMABAD: Prime Minister Imran Khan has declared that the rise in remitment rate within the country this yr may be a record within the history of the country and for this, he’s grateful to the Pakistanis living overseas.
The prime minister took to Twitter and wrote that remitment sent by overseas Pakistanis were a pair of.27 billion in Jan, remittances square measure nineteen p.c above 2020, remittances square measure over 2 billion for eight consecutive months.
“Remittances from overseas Pakistanis were $2.27 bn in Gregorian calendar month, up nineteen over Gregorian calendar month 2020 – eighth consecutive month of remittances higher than $2b. up to now during this twelvemonth they’re up pure gold compared to last time period. this can be a record for our country and that i impart our overseas Pakistanis,” he tweeted.
Workers’ remittances exceeded $ a pair of.0 billion for the eighth consecutive month and amounted to $2.3 billion in Jan 2021, up by nineteen p.c over Jan 2020. However, remittances remained slightly lower from the Gregorian calendar month 2020 level of $2.4 billion.
On a additive basis, workers’ remittances reached $16.5 billion from Gregorian calendar month to Jan FY21, registering a twenty four p.c increase over identical amount last year. an outsized a part of workers’ remittances throughout Gregorian calendar month to Jan FY21 was sourced from Asian country ($4.5 billion), United Arab Emirates ($3.4 billion), uk ($2.2 billion), and us ($1.4 billion).
This sustained increase in workers’ remittances for the most part reflects the growing use of banking channels that’s attributed to continuous efforts by the govt and SBP to draw in inflows through the official channels, restricted cross-border travel amid the second wave of COVID-19, and a versatile rate regime.