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Karachi

Overseas Pakistani send more than $20 billion in eight months of 2021-22

KARACHI: 11, MARCH, 2022: The overseas Pakistani workers sent over $20 billion during the first eight months (July–February) of fiscal year 2021/22, according to data shared by the State Bank of Pakistan (SBP) on Thursday.
The SBP said that "with $2.2 billion inflows during February 2022, the workers’ remittances continued their strong performance and have remained above $2 billion since June 2020."
In terms of growth, during February 2022, remittances increased 2 per cent on a month-on-month basis despite fewer working days compared to January and fell 2.7 per cent on a year-on-year basis.
During the first eight months (July-Feb) of the current fiscal year, the SBP said remittances grew by 7.6 per cent to $20.1 billion compared to the same period of last year.
The data showed the remittance inflows from Saudi Arabia clocked in at $558 million, United Arab Emirates (UAE) $387 million, United Kingdom $319 million, and United States of America $210 million in February 2022. (04)

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