KARACHI, June 15: Pakistan received a record amount of $4,988.10 million as workers’ remittances during the first eleven months (July–May 2006- 07) of the current fiscal year as against $4,136.25 million in the corresponding period of the last fiscal year, registering an increase of $851.85 million or 20.59 per cent.

During May 2007, Pakistani workers abroad remitted the highest-ever amount of $537.98 million in a single month.

They remitted $506.57 million in May, 2006 depicting an increase of $31.41 million or 6.20 per cent as compared to May 2007.

The previous highest amount remitted in a single month was recorded in March 2007, when an amount of $520.24 million was sent home by overseas Pakistanis.

The current remittances amount of $4,988.10 million, includes $2.57 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).

The inflow of remittances during the first eleven months of the current fiscal year from the United States, Saudi Arabia, the United Arab Emirates, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $1,319.47 million, $927.09 million, $771.10 million, $689.17 million, $392.59 million and $136.53 million, respectively.

The monthly average remittances for the period July–May 2006-07 comes out to $453.46 million as compared to $376.02 million during the same period of the last fiscal year, registering an increase of 20.59 per cent.