Wednesday, 15 September 2010

Pakistan August Remittances From Overseas Workers $933 Million

KARACHI -(Dow Jones)- Pakistan received $933 million in remittances from overseas workers in August, the highest ever for a month, the central bank said Monday.

The previous high was $841.4 million in June.

In the July-August period--the first two months of the fiscal year which started July 1--remittances rose 13% from a year earlier to $1.72 billion, the State Bank of Pakistan said.

The central bank and the Ministry of Finance and the Ministry of Overseas Pakistanis have undertaken a joint initiative to facilitate the flow of remittances through formal channels rather than illegal methods.

-By Haris Zamir, contributing to Dow Jones Newswires; +91-11-43563311;


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