Pakistan receives over 3.629 billion dollars remittances

The overseas Pakistanis remitted an amount of 3.629 billion U.S. dollars into the country during the first 10 months of the current fiscal year, up 5.16 percent compared to the same period of last fiscal, the State Bank of Pakistan (SBP) was quoted by Daily Times as saying on Thursday.

In a statement, the SBP said "Pakistan received an amount of 3, 629.68 million dollars as workers' remittances during the first 10 months of the current fiscal year (July 2005 - April 2006) as against 3,451.51 million dollars received in the corresponding period of the last fiscal year, registering an increase of 178.17 million dollars or 5.16 percent."

It said, "the amount of 3,629.68 million dollars includes 10.81 million dollars received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs)."

The SBP said that the inflow of remittances during the first 10 months of the current fiscal year was mainly from the United States, Saudi Arabia, the United Arab Emirates, the Gulf Cooperation Council countries (including Bahrain, Kuwait, Qatar and Oman), the United Kindom and the European Union countries, which amounted to 2,995.24 million dollars.

It said that remittances also received from Canada, Australia, Norway, Switzerland, Japan and others countries.

Source: Xinhua