KARACHI: July 10, 2023: The Workers’ remittances recorded an inflow of US$2.2 billion during June 2023. According to the data released by the State Bank of Pakistan (SBP) here on Monday in June 2023 remittances increased by 3.9 percent on m/m basis.
It added that accumulatively, at US$ 27.0 billion, remittances decreased by 13.6 percent during FY23 as
compared to FY22.
The remittances inflows during June 2023 were mainly sourced from Saudi Arabia
($515.1 million), United Kingdom ($343.0 million), United Arab Emirates ($324.7 million) and
United States of America ($272.3 million).
The significant increase in the workers’ remittances is a good news for Pakistan. It gives an indication of Pakistan’s recovery on economic front. Pakistan is struggling to overcome its economic meltdown and it heavily depends on inflows of workers remittances. Pakistan on an average get $ 30 billion plus on account of the workers remittances every year and it keep it up even in hard times like the current days when it was witnessing the worse time ever in its 75-yeear history.