Global slowdown reflects in low remittances by Pakistan workers

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Amanullah Khan

Karachi—Overseas Pakistani workers remitted $4698.31 million in first three months (July to September) of FY17, compared with $4965.81 million received during the same period in the preceding year. During September 2016, the inflow of worker’s remittances amounted to $1609.29 million, which is 8.60 per cent lower than August 2016 and 9.34 per cent lower than September 2015.
The country wise details for the month of September 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $437.87 million, $361.89 million, $210.82 million, $210.18 million, $182.16 million and $43.6 million respectively compared with the inflow of $483.21 million, $428.13 million, $260.43 million, $233.27 million, $201.34 million and $33.31 million respectively in September 2015. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during September 2016 amounted to $162.77 million together as against $135.46 million received in September 2015.