Remittances jump 15pc

Dawn

KARACHI: Remittances from overseas Pakistanis grew 15.14 per cent to $7.42 billion in first four months (July-October) of this fiscal year, from $6.44bn in the same period last fiscal year.

The inflows for October clocked in at $2bn – surging by 37.7pc month-on-month and 20.9pc year-on-year from $1.452 and $1.65bn, respectively.

Saudi Arabia was yet again the biggest source of remittances this month at $494.53 million, up 7.26pc, from $461.07m in same period last year. 4MFY19 figures from the kingdom stood at $1.76bn, higher by 4.05pc from $1.69bn.

United Arab Emirates came in second with $412m in October, jumping 23.5pc from $333.57m in corresponding period last year.