Remittances from Kuwait increase

Published July 22, 2002

KUWAIT CITY, July 21: Remittances from Pakistanis living here have doubled during the last fiscal year (2001-02) that ended last month.

The remittances, according to the figures available to Dawn, have reached $90 millions against $45 million of 2000-01.

The increase was noticed after the events of Sept 11, as many Pakistanis turned to the legal banking system owing to the fear of US-led-world-wide probe into money laundering.

The economic analysts stated that if the figure kept on going, it may reached to $120 million in 2002-03, which would be a record.