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New remittance record thanks to PM overseas Pakistanis.

PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan has thanked overseas Pakistanis for setting a new record for remittances and praised them for their love for their homeland.

On social networking site Twitter, Prime Minister Imran Khan said, “I have always considered overseas Pakistanis as the biggest asset of the country. Remittances from Pakistanis abroad reached a record high of 2. 2.8 billion in April, before fiscal year 2021.” Remittances in 10 months were .2 24.2 billion.

The Prime Minister further said that Pakistanis abroad broke the record of remittances received in the entire financial year 2020. Prime Minister Imran Khan thanked overseas Pakistanis for their confidence in the new Pakistan.

According to a SBP report last month, February remittances were 24.2 percent higher than in February 2020.
During July-February FY21, workers’ remittances reached 18 18.7 billion. July-February remittances were 24.1% higher than the previous fiscal year.
During the first seven months of the year, the country’s total exports stood at Rs 13.89 billion in the fiscal year 2021, from July to January, reflecting the country’s growing reliance on remittances.

During this period, remittances of 3.4 billion were received from the United Arab Emirates, remittance 2.2 billion from the United Kingdom and 4 1.4 billion from the United States.
State Bank of Pakistan are constantly facilitating remittances.
The steady increase in remittances largely reflects the increasing use of banking resources. Efforts by the government and the SBP to promote remittances from formal sources include the introduction of new regulations in the money exchange markets, resulting in remittances Money is rising.

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