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August 17, 2006
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Thursday
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Rajab 21, 1427
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$377.01m remitted in July
By Our Staff Reporter
KARACHI, Aug 16: Remittances from the overseas Pakistanis showed a 20 per cent growth during first month of the current fiscal compared to the same month last year.
The State Bank on Wednesday said that a total of $377.01 million were remitted during July 2006 as against $313.14 million the same month last year.
The remittances also included $0.68 million encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).
The inflow of remittances from all countries increased during the month under review over the same month last year. The United States topped the list with $90.73m followed by Saudi Arabia ($80.92m), the UAE ($59.62m), GCC countries ($57.48m), UK ($31.70m) and EU countries ($10.53m).
Remittances from Canada, Switzerland, Australia, Norway, Japan and other countries increased to $45.35 million during July 2006 as compared to $37.23 million the same month last year.
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