KARACHI, April 16: Overseas Pakistanis remitted a record amount of $520.24 million during March 2007 as against $423.56 million the same month last year, a rise of 22.8pc. The previous highest amount of remittance in a single month was recorded in May 2006 when $506.57 million were sent back home.During the first nine months of this fiscal the country received a total of $3,936.77 million in workers’ remittances as against $3,228.21 million in the corresponding period last year, an increase of 21.95pc.

The amount of $3,936.77 million includes $1.90 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).

The monthly average remittances for the period July 2006 to March 2007 was $437.42 million as compared to $358.69 million the same period last fiscal year depicting an increase of 21.95pc.

The inflow of remittances from all countries showed a rising trend in March 2007. The United States maintained the top position with $142.72 million followed by Saudi Arabia $92.69 million, UAE $82.29 million, GCC countries (including Bahrain, Kuwait, Qatar and Oman) $70.43 million, UK $37.75 million and EU countries $12.88 million.

Remittances received from Canada, Australia, Norway, Switzerland, Japan and other countries amounted to $81.13 million in March 2007 as against $64.47 million the same month previous year.—APP