ID :
12730
Wed, 07/16/2008 - 19:08
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http://m.oananews.org//node/12730
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Pakistan receives record $6.451 billion workers' remittances in FY08
Karachi, July 16 PPI: Pakistan received highest-ever amount of over $6.451 billion as workers' remittances in recently concluded 2007-08 fiscal year (FY08), beating previous record of $5.494 billion received in preceding fiscal 2006-07 (FY07).
In FY08 workers' remittances showed increase of 17.43%, or $957.59 million, when compared with FY07, State Bank of Pakistan said Wednesday.
The amount of $6.451 billion includes $2.40 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) & Foreign Currency Bearer Certificates (FCBCs).
The monthly average remittances from July 2007 to June 2008 comes out to $537.60 million as compared to $457.80 million during same corresponding period of last fiscal registering 17.43 percent increase.
The inflow of remittances from July 2007 to June 2008 period from USA, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar & Oman), UK and EU states amounted to $1,762.03 million, $1,251.32 million, $1,090.30 million, $983.39 million, $458.87 million and $176.64 million respectively, as compared to $1,459.64
million, $1,023.56 million, $866.49 million, $757.33 million, $430.04 million & $149 million, respectively between July 2006 to June 2007 period.
Remittances from Norway, Switzerland, Australia, Canada, Japan and other states during FY08 amounted to $726.29 million as against $804.91 million in FY07.
In FY08 workers' remittances showed increase of 17.43%, or $957.59 million, when compared with FY07, State Bank of Pakistan said Wednesday.
The amount of $6.451 billion includes $2.40 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) & Foreign Currency Bearer Certificates (FCBCs).
The monthly average remittances from July 2007 to June 2008 comes out to $537.60 million as compared to $457.80 million during same corresponding period of last fiscal registering 17.43 percent increase.
The inflow of remittances from July 2007 to June 2008 period from USA, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar & Oman), UK and EU states amounted to $1,762.03 million, $1,251.32 million, $1,090.30 million, $983.39 million, $458.87 million and $176.64 million respectively, as compared to $1,459.64
million, $1,023.56 million, $866.49 million, $757.33 million, $430.04 million & $149 million, respectively between July 2006 to June 2007 period.
Remittances from Norway, Switzerland, Australia, Canada, Japan and other states during FY08 amounted to $726.29 million as against $804.91 million in FY07.
