KARACHI, Dec 13: Remittances sent by the overseas Pakistanis continued to show a rising trend as an amount of $2,966.51 million was received in the first five months (July-November) of the current fiscal year 2008-09, showing an increase of $379.44 million or 14.67 per cent over the same period of the last fiscal year.

According to an SBP statement, the amount of $2,966.51 million includes $0.32 million received through encashment and profit earned on Foreign Exchange Bearer Certificates and Foreign Currency Bearer Certificates.

In November, an amount of $620.52 million was sent home by overseas Pakistanis which is the second-highest amount received in the current fiscal year. In July, an amount of $627.21 million was received as workers remittances.

The inflow of remittances in the July-November 2008 period from US, Saudi Arabia, UAE, GCC countries, including Bahrain, Kuwait, Qatar and Oman, UK and EU countries, amounted to $767.12 million, $600.25 million, $534.25 million, $496.21 million, $188.95 million and $81.02 million, respectively, as compared to $733.76 million, $481.81 million, $423.00 million, $380.00 million, $197.41 million and $76.09 million respectively in the July-November, 2007 period.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first five months of the current fiscal year 2008-09 amounted to $298.39 million as against $294.03 million in the same period last year.

The monthly average remittances for the period July-November comes out to $593.30 million as compared to $517.41 million during the same period of the last fiscal year, registering an increase of 14.67 per cent.

Remittances from the UAE, US, Saudi Arabia, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $146.16 million, $140.19 million, $105.45 million, $100.74 million, $39.18 million and $15.87 million respectively during November 2008 as compared to $88.18 million, $142.95 million, $90.90 million, $77.86 million, $32.91 million and $15.41 million in November 2007.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during November 2008 amounted to $72.77 million.—APP