American Pakistani remittances $701.6 million in June and July

Remittances increased by 31pc, Prime Minister IK tweets.

Karachi, Islamabad,

According to the State Bank of Pakistan (SBP) statistics, remittances showed a major decline from US to $250.6 million in July from $451 million in June.

Prime Minister Imran Khan on Monday said remittances received by the country have increased by 31pc during the first two months of the fiscal year as compared to the same period last year.

Praising overseas Pakistanis, the premier said remittances of $2,095 million were received in August, which is an increase of 24.4pc.

Overseas Pakistanis send remittances from other Gulf countries were recorded at $296.95 million, including $42,62 million from Bahrain, $69.83 million from Kuwait, $82.49 million from Qatar and $102 million from Oman.

Earlier in July, the premier said remittances flowing into Pakistan reached $2,768 million in July 2020 the highest ever amount in one month in the history of Pakistan.

The country-wise breakup of the remittances showed that the highest amount  $821.55 million  in July came from Saudi Arabia followed by $538.19 million from the United Arab Emirates (UAE). In June 2020, the remittances from Saudi Arabia and the UAE were $619.43 million and $431.68, respectively.

According to the State Bank of Pakistan (SBP) statistics, overseas Pakistanis remitted $443.13 million from Dubai, $393.91 million from the United Kingdom, $250.6 million from the US, $88.29 million from Abu Dhabi and $4.69 million from Sharjah in July.

The remittances received from the European countries last month were $227.57 million. They included Germany $35.34 million, France $32.99 million, The Netherlands $4.5 million, Spain $38.9 million, Italy $49.46 million, Greece $20.01 million, Sweden $4.85 million, Denmark $6 million, Ireland $12.25 million, and Belgium $23,27 million.

Pakistan received $22.25 million from Malaysia, $10.91 million from Norway, $2.83 million from Switzerland, $52.11 million from Australia, $43.13 million from Canada and $9.31 million from Japan. The SBP stated that $98.82m were received from other countries, making it to a total of $2,768.13 million in July 2020. In June 2020, the total remittances received from these countries were $2,466.28 million.

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