December 19, 2007	Wednesday	Zilhaj 8, 1428

KARACHI, Dec 18: Overseas Pakistanis sent 23 per cent more money to Pakistan in the first five months of the current fiscal, SBP reported on Tuesday.Remittances continued to show a rising trend as an amount of $2,587.07 million was received in the first five months (July-November 2007) of the current fiscal year 2007-08, showing an increase of $494.26 million or 23.62 per cent over the same period of the last fiscal.

The monthly average remittances for the period July-November, 2007 comes out to $517.41 million as compared to $418.56 million during the same corresponding period of the last fiscal year, registering an increase of 23.62 per cent.

During the last month (November 2007), Pakistani workers remitted an amount of $505.58 million, up $56.97 million or 12.70pc when compared with an amount of $448.61 million sent home in November 2006.

The amount of $2,587.07 million includes $0.97 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).

Highest amount was remitted from the United States which reached $733 million. The amount was followed by Saudi Arabia reaching $481 million and UAE as $423 million.

The inflow of remittances into Pakistan from most of the countries of the world increased last month as compared to November, 2006, said the SBP in a release.