KARACHI, July 15: Overseas Pakistanis sent back home record $4.612 billion remittances during the last fiscal year as against $4.168 billion remitted during the FY05, showing an increase of 10.35 per cent.

According to a report of State Bank here on Saturday, the highest inflow of remittances during the FY06 was from the USA ($1,242.49 million) followed by Saudi Arabia ($750.44 million), UAE ($716.30 million), GCC countries — including Bahrain, Kuwait, Qatar and Oman – ($596.46 million), UK ($438.65 million) and EU countries ($119.62 million) compared to $1,294.08 million, $627.19 million, $712.61 million, $512.14 million, $371.86m and $101.51m respectively remitted during the FY05.

Remittances received from Canada, Switzerland, Norway, Australia, Japan and other countries during the FY06 totalled $724.07 million as against $532.90 million the previous year.

The total remittances also included $12.09 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).—APP