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.