KARACHI - Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of $5,903.83 million was received in the first 11 months (July 2007-May 2008) of the current fiscal year 2007-08, showing an increase of $915.73 million or 18.36 percent over the same period of the last fiscal year. The amount of $5,903.83 million includes $2.36 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).
The monthly average remittances for the period July-May, 2007-08 comes out to $536.71 million as compared to $453.46 million during the same corresponding period of the last fiscal year, registering an increase of 18.36 percent. [Read More]
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