Overseas Pakistanis send $3 billion; highest-ever in a month

KARACHI: The inflows of workers’ remittances crossed $3 billion in April 2022, which is the highest-ever remittances received in a month, the State Bank of Pakistan (SBP) said on Friday.

“With $3.1 billion inflows during April 2022, the workers’ remittances crossed $3 billion for the first time ever.”

In terms of growth, during April 2022, the remittances increased 11.2 per cent on a month-on-month (MoM) basis and 11.9 per cent on a year-on-year (YoY) basis.

Cumulatively, at $26.1 billion, the remittances grew 7.6 per cent during the 10 months of the fiscal year 2021/22, compared with the same period of the last year.

The remittances’ inflows during April were mainly sourced from Saudi Arabia ($707 million), the UAE ($614 million), the UK ($484 million) and the US ($346 million).