KARACHI: Remittances sent home by overseas Pakistanis continued their rising trend as the country received $1.501 billion in the first quarter (July-September 2007) of the current fiscal year 2007-08, showing an increase of $267.66 million or 21.70 percent over the same period of last fiscal year.
According to latest figures released by the State Bank of Pakistan (SBP) on Monday, the amount of $1.501 billion includes $0.63 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).
The monthly average of remittances for the period July-September, 2007 comes out to $500.42 million as compared to $411.20 million during the same period of the last fiscal year. [Read more]
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