PM Imran Khan thanks overseas Pakistanis for ‘record-breaking’ month of remittances

Published in The News on January 08, 2021

Prime Minister Imran Khan announced that Pakistan had had a “record-breaking” month for December as far as remittances is concerned, saying that the country had received $2.4bn in December.

“MashaAllah, 1st time in Pakistan remittances have been above $2 bn for 6 consecutive months,” wrote the prime minister on Twitter.

According to figures shared by the prime minister, the total number of remittances received during the past six months for the fiscal year amount to $14.2 bn.

The prime minister said that Pakistan had witnessed a growth of 24.9% in remittances when compared to last year.

“I want to thank our overseas Pakistanis for yet another record-breaking month of remittances in Dec: $2.4 bn. MashaAllah, 1st time in Pakistan remittances have been above $2 bn for 6 consecutive months. Total for 6 months of this fiscal year $14.2 bn – a 24.9% growth over last yr,” he tweeted.

Pakistan’s remittances in November 2020

Pakistan maintained a strong momentum in workers’ remittances for the sixth consecutive month in November with over $2billion, the State Bank of Pakistan (SBP) had reported last month.

Workers’ remittances increased 28.4% year-on-year in November 2020, pushing the cumulative flows to $11.8 billion during the July-November FY21 with a rise of 26.9% compared to same period last year, the SBP had said.

“This significant growth reflects continued government and SBP efforts to formalise remittances under Pakistan Remittances Initiative (PRI), growing use of digital channels amid limited international travel, orderly exchange market conditions and improved global economic activity,” the central bank had said.

Related Posts

20

Jun
Print Media

Accounting for change

By Khurram Husain Published in Dawn on June 21, 2024 THE resistance to change in Pakistan is an old problem but it wears a new face every few years. These days the resistance to change is wearing the face of an accounting problem. In other words, everything from our debt management to reforms in the power sector […]

Print Media

Budgets to empower women

By Rashida Dohad Published in Dawn on June 08, 2024 HOW much do governments in Pakistan spend to empower women? What are the trends in allocating and expending budgets for facilities and institutions that help women and girls get equal opportunities and live in dignity? Are there gaps in essential and strategic investments that can be plugged[…]