Pakistan records remittances over $2 billion for eighth consecutive month

Remittances were up by 24 per cent as compared to last year

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ISLAMABAD: Pakistan’s Prime Minister Imran Khan on Monday said the country had made its record for remittances above $2 billion for eight consecutive months and acknowledged the contribution of overseas Pakistanis.

He mentioned that remittances from overseas Pakistanis were $2.27 billion in January, which 19 per cent more than last January.

He said to date in this fiscal year, the remittances were up by 24 per cent as compared to last year.

“This is a record for our country and I thank our overseas Pakistanis,” he said in a tweet.

 

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Imran Khan said the industrial sector also showed good result with sustained growth.

“Large scale manufacturing saw another double-digit growth month in December 2020 – 11.4 per cent growth vs Dec 2019,” he said.

The cumulative growth from July to December was recorded above eight percent, he added.

Before his tweets, the SBP had released the data for the remittances Pakistan had received in January.

“During FY21, remittances at an unprecedented $16.5bn are 24% higher than same period in FY20,” said the SBP.

The highest amount of remittances came from the overseas Pakistanis in Saudi Arabia, with data showing that the country had received $553.6 million from there.

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