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OVERSEAS PAKISTANIS FOUNDATION

Ministry of Overseas Pakistanis & Human Resource Development, Government Of Pakistan

KARACHI: The country received 13 per cent more remittances in the first quarter of the current fiscal, indicating inflows were higher from almost all sources except the Gulf Cooperation Council (GCC) countries.

Overseas Pakistanis remitted $5.419 billion in the first quarter of FY19; 13.14pc higher than the same period of last year.

However, according to a State Bank’s report issued on Wednesday, remittances in September dropped to $1.452bn compared to $2.03bn in August.

Higher remittances are encouraging for the government since they are a key ingredient to bridge the current account deficit.

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