The State Bank of Pakistan has released the details of remittances sent by overseas Pakistanis during April.
According to the data, overseas Pakistanis sent a total of $3.5 billion to Pakistan in April, however, there was a 7.6% decrease in remittances compared to March. Despite this, there has been an increase in remittances on an annual basis, and 11.4% more money came to Pakistan this time compared to April last year.
According to the State Bank, a total of $33.90 billion was sent to Pakistan in the first 10 months of the current fiscal year, while this amount was $31.20 billion in the same period last year. According to sources, the highest amount of money was received from Saudi Arabia in the form of $841.7 million and $734.7 million from the United Arab Emirates.
Similarly, $563.7 million was sent to Pakistan from the United Kingdom and $317.6 million from the United States. According to experts, the overall increase in remittances is a positive sign for the country’s economy, however, the monthly decline is also being monitored.
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