September 16, 2006	Saturday	Sha'aban 22, 1427

KARACHI, Sept 15: The inflow of workers remittances has increased significantly during the first two months of the current fiscal year, said a press release of the State Bank on Friday.

The country received a total of $811.85 million remittances during July-August as against $661.55 million in the corresponding period last year, showing an increase of 22.72pc.

The remittances also included $0.80 million received through encashment and profit earned on FEBCs and Foreign Currency Bearer Certificates (FCBCs).

During August 2006, $434.84 million were remitted as against $348.41 million the same month last year, an increase of 24.81pc.

The country-wise breakup showed that the United States stood top with $203.59 million remittances followed by Saudi Arabia with $165.34 million, the UAE with $124.97 million, GCC countries (including Bahrain, Kuwait, Qatar and Oman) with $115.42 million, the UK with $69.38 million and the EU countries with $24.60 million during the July-August 2006.

Remittances received from Canada, Australia, Norway, Switzerland, Japan and other countries during the period under review amounted to $107.75 million as against $80.01 million the same period last year.

The monthly average remittances for the period came out to $405.93 million as compared to $330.78 million last fiscal year.

The inflow of remittances into Pakistan from almost all countries of the world increased during the period.