Remittances for current fiscal year increase by 8.45 percent to $17.875 billion

Rawalpindi: Adviser to PM on Finance, Revenue and Economic Affairs Dr Hafeez Shaikh, presented the Economic Survey 2018-19. It reveals that the total remittances have increased by 8.45 percent in the first 10 months of the current financial year. This is a raise from $17.875 billion to $16.482 billion.

invest with imarat

Islamabad’s emerging city centre

Learn More

Majority of the remittances have been coming in from Saudi Arabia at $4.175 billion, UAE $3.787 billion, USA $2.786 billion, UK $2.756 billion, Malaysia $1.263 billion, EU $485.89 million, and other GCC countries sending a remittance of $1.718 billion.

However remittances during July-April fiscal year 2019 have declined by 9.28 percent from EU countries and 5.40 percent from other GCC countries. Remittances however have been seen to increase from Saudi Arabia by 2.08 percent, USA by 21.82 percent and UK by 16.59 percent.

For news and updates keep on visiting Graana blog

 

Maham Tahir

Recent Posts

A Guide to Quetta Town in Karachi

Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…

13 hours ago

Akbar Chowk Lahore: A Focal Point of Connectivity

Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…

1 day ago

A Guide to Khuda Baksh Colony Lahore

Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…

2 days ago

Gol Market Karachi: A Vibrant Commercial Hub

Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…

2 weeks ago

Model Town Gujranwala: A Well Planned Residential Area

Model Town, located in the heart of Gujranwala, is one of the city’s most prestigious…

2 weeks ago

Senate Greenlights Special Courts for Swift Resolution of Overseas Pakistanis’ Property Cases

ISLAMABAD, Pakistan— In a major move to address the longstanding grievances of overseas Pakistanis, the…

2 weeks ago