Karachi: February 12: Pakistan’s worker remittances recorded an inflow of US$2.4 billion during Jan 24. The data released by the State Bank of Pakistan (SBP) suggested that in terms of growth remittances increased by 0.6 percent on m/m and 26.2 percent on y/y basis in January 2024.
The SBP added the worker remittances inflow of US$ 15.8 billion has been recorded during first seven months of FY24. The remittances inflows during Jan 24 were mainly sourced from Saudi Arabia ($587.3 million),
United Arab Emirates ($407.6 million), United Kingdom ($362.1 million) and United States of America ($283.4 million).
The healthy trend in Pakistan’s remittances is a good news as Islamabad heavily depends on the workers remittances for building up its forex reserves. Pakistan’s experts believe that improvement in the workers remittances show Pakistanis trust in Pakistan and keep sending their earning through banking channels to their country.
