Remittances up by 12.6pc
KARACHI: Overseas Pakistanis kept increasing their remittances this fiscal year 2014-15 with a growth rate of over 12 per cent.
The State Bank said on Wednesday that Pakistanis remitted $2.978 billion in first two months (July-Aug) of current fiscal year (FY15) as compared to $2.644bn of the corresponding period last year, an increase of 12.6pc.
During FY14, the remittances increased by 13.72pc to $15.832bn as compared to $13.92bn during FY13.
The country’s reliance on remittances has been increasing since the exports have failed to meet the size of the imports.
Published in Dawn, September 11th, 2014
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