Wednesday, 12 September 2012 09:57:48
Overseas Pakistani remittances grow by 2.36 % in two months: SBP
KARACHI, Sept 11 (APP) : The overseas Pakistani workers remitted an
amount of dollars 2,463.69 million in the first two months (July - August) of the current fiscal year.
This shows a growth of 2.36 percent or dollars 56.91 million
as compared to dollars 2,406.78 million received during the same
period of last fiscal year, said a statement from State Bank of
Pakistan here on Tuesday.
The inflow of remittances in July and August in 2012 from
Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain,
Kuwait, Qatar and Oman), and EU countries amounted to dollars
657.78 million, dollars 505.80 million, dollars 446.61 million,
dollars 334.06 million, dollars 274.09 million and dollars 63.57
million respectively as compared to the inflow of dollars 601.62
million, $ 552.11 million, $ 458.45 million, $ 282.45 million,
$ 250.76 million and $ 74.97 million respectively in July-
August 2011.
Remittances received from Norway, Switzerland, Australia,
Canada, Japan and other countries during the first two months
of current fiscal year (July-August FY13) amounted to $ 181.78
million as against $ 186.42 million received in the first two
months of last fiscal year (July-August FY12).
The monthly average remittances for July-August 2012 period
comes out to $ 1,231.85 million as compared to $ 1,203.39 million
during the corresponding period of the last fiscal year.
An amount of $ 1,258.98 million was remitted by Overseas
Pakistanis in August 2012 as against $ 1,310.47 million in the
same month of the last fiscal year (August 2011).
In August 2012, the inflow of remittances from Saudi Arabia,
UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and
Oman), and EU countries amounted to $308.12 million} $265.26
million, $231.31 million, $185,57 million, $133.73 million and
$32.74 million respectively as compared with the inflow of
$309,79 million, $ 294.46 million, $263.58 million, $163.90
million, $134.31 million and $42.38 million respectively in
August, 2011.
Remittances received from Norway, Switzerland, Australia,
Canada, Japan and other countries during the second month of
current fiscal year (August FY13) amounted to $ 102.25 million
as against $ 102.05 million received in the second month of last
fiscal year (August FY12).
The continued growth in workers' remittances is the result of
the efforts made by Pakistan Remittance Initiative (PRl) in
collaboration with other stakeholders to facilitate both Overseas
Pakistanis and their families back home.
Since its inception , PRI has taken a number of steps to
enhance the flow of remittances through formal channels which
include preparation of national strategies on remittances--
taking all necessary steps to implement the overall strategy--
playing the advisory role for financial sector in terms of
preparing a business case, relationship building with overseas
correspondents, creating separate efficient remittance payment
highways and -- becoming a national focal point for overseas
Pakistanis through round the clock call centre (021-111-222-774)
with toll free lines, separate web site etc.
It may be recalled that in order to provide an ownership
structure in Pakistan for remittance facilitation , the
Governemnt through state Bank of Pakistan, Ministry of Overseas
Pakistanis and the Ministry of Finance had launched a point
initiative called Pakistan Remittance Initiative (PRI) in April
2009.
This initiative has been taken to achieve the objective of
facilitating and supporting faster, cheaper, convenient and
efficient flow of remittances.
|
