KARACHI, May 17: Pakistan received a record $4,450.12 million as workers’ remittances during the first 10 months of the current fiscal year (July 2006 – April 2007). During the same period last year, the country had received $3,629.68 million. The latest inflows registered an increase of $820.44 million or 22.60 per cent.

The amount of $4,450.12 million includes $2.24 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).

During April, workers remitted $513.35 million as against $401.47 million in April, 2006, depicting an increase of $111.88 million or 27.87 per cent.

The monthly average remittances for the period July 2006-April 2007 come to $445.01 million as compared to $362.97 million during the same period in last fiscal year, registering an increase of 22.60 per cent.

The inflow of remittances during the first 10 months of the current fiscal year from US, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $1,176.12 million, $827.60 million, $673.51 million, $609.88 million, $354.60 million and $123.08 million.

The inflow of remittances into Pakistan from most of the countries of world increased last month as compared to April, 2006.

According to the break up, remittances from US, Saudi Arabia, UAE, GCC countries — Bahrain, Kuwait, Qatar and Oman — UK and EU countries amounted to $141.43m, $94.12 million, $77.53 million, $71.59 million, $35.35 million and $12.70 million, respectively, as compared to the corresponding receipts from the respective countries during April, 2006 i.e. $101.24 million, $69.05m, $64.59 million, $47.98 million, $41.05 million and $9.44 million.