Workers’ remittances exceeded ڈالر 2 billion in February 2021 for the ninth consecutive month.
According to the SBP, February remittances were 24.2 percent higher than February 2020. Workers’ remittances reached .7 18.7 billion during July-February fiscal year 21. July-February remittances were 24.1 percent higher than the previous fiscal year. Stay
Received 5 5 billion from Saudi Arabia, 3. 3.9 billion from the UAE, 2.5 2.5 billion from the United Kingdom, and 1. 1.6 billion from the United States. Among the things that have contributed to this steady increase in workers’ remittances are the policy measures taken by the government and the State Bank of Pakistan to encourage remittances through formal channels, such as cross-border travel due to the Corona epidemic. These include limitations, the transfer of medical expenses and welfare funds to Pakistan during the epidemic, and the stabilization of the exchange market.
Speaking to the Express Tribune, the head of the remittance department at a leading bank said that overseas Pakistanis sent more than تا 500 million to توقع 100 million in February. He estimated that remittances would reach 28 28 billion by the end of the fiscal year.