ISLAMABAD – Spokesman for Finance Division, Omar Hamid Khan stated that because of the rising confidence in Prime Minister Imran Khan Khan’s financial insurance policies and the resurgence in financial exercise, employees’ remittances in February elevated by 15 %.
In an tweet, the spokesman stated that the remittances in February 2020 stood at $1.eight billion, which is a rise of 15 % over February 2019.
In July to February (2019-20), the remittances rose to $15.1 billion, with progress of 5.Four % in comparison with similar interval of the final fiscal yr, he added.
It’s pertinent to say that the employees’ remittances elevated by 5.Four % through the first eight months of the present fiscal yr, in contrast the corresponding interval of final yr, in keeping with the newest information of State Financial institution of Pakistan (SBP).
The employees’ remittances obtained throughout July–February (2019-20) amounted to $ 15,126.5 million in opposition to the remittances of $ 14,355.eight million obtained throughout July-February (2018-19), exhibiting a rise of $ 770.7 million.
On year-on-year foundation, the remittances throughout February 2020 stood at $ 1,824.three million, exhibiting a rise of $ 242.6 million or 15.three % over remittance of $ 1,581.eight million obtained throughout corresponding month of final yr.
Nevertheless, on month-on-month foundation, the employees’ remittances in February 2020 decreased by $ 83 million or 4.Four % when in comparison with the remittance of $ 1,907.32 million obtained throughout earlier month (January 2020).
Throughout February 2020, bigger quantities of employees’ remittances had been obtained from Saudi Arabia ($ 421.96 million), UAE ($ 387.1 million), USA ($ 333.5 million) and UK ($ 253.5 million) recording a lower of two.6 %, 2.1 %, 0.5 % and 15.2 % respectively as in comparison with January 2020.