Wednesday, 23 May 2007

Pakistan: Workers’ remittances reach record level

KARACHI, May 17: Pakistan received a record $4,450.12 million as workers’ remittances during the first 10 months of the current fiscal year (July 2006 – April 2007). During the same period last year, the country had received $3,629.68 million. The latest inflows registered an increase of $820.44 million or 22.60 per cent.

The amount of $4,450.12 million includes $2.24 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).

During April, workers remitted $513.35 million as against $401.47 million in April, 2006, depicting an increase of $111.88 million or 27.87 per cent. [Read more]

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