More than 763 million dollars entered the Pakistani economy in March
AFP/File Photo
Remittances sent home by overseas Pakistanis continue to show a rising trend, a DawnNews report said on Saturday.
Remittances increased by 16 per cent during the first nine months of the fiscal year as an amount of 6.55 billion dollars was sent home by Pakistanis living abroad.
This shows an increase of more than 892 million dollars from the same period for the last fiscal year.
More than 763 million dollars entered the Pakistani economy in March, which bodes well for the country.
The monthly average for remittances also grew in the current fiscal year compared to the previous.
The State Bank, Ministry of Finance and Ministry of Overseas Pakistanis had undertaken a joint initiative called ‘Pakistan Remittance Initiative,’ in order to facilitate the flow of remittances through formal channels.
This initiative has started to materialise and remittances through formal channels have been showing considerable growth. —DawnNews
Source: http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/07-remittances-grow-by-16-per-cent-over-nine-months-ha-09