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Pakistan’s overseas remittances surpass $2 bln for tenth consecutive month

Remittances of $2.7 billion in March from Pakistani workers employed abroad exceeded $2 billion for the 10th consecutive month, and were up 43 percent from a year earlier, the central bank said on Monday.

Proactive policy steps by the government and State Bank to spur inflows through formal channels, combined with limited cross-border travel, medical expenses and altruistic transfers amid the pandemic to fuel the rise, it said in a statement.

“The love and commitment of overseas Pakistanis to Pakistan is unparalleled,” Prime Minister Imran Khan said on Twitter.

“You sent over $2 billion for 10 straight months despite COVID, breaking all records. We thank you.”

Read the latest updates in our dedicated coronavirus section.

The inflows came mainly from the nations of Saudi Arabia, standing at $5.7 billion; the United Arab Emirates, at $4.5 billion; with $2.9 billion from Britain and $1.9 billion from the United States, the central bank said.

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