KARACHI: Remittances sent by overseas Pakistani workers living in Saudi Arabia fell by 7.5 per cent during first two months of the fiscal year 2022/2023.
Pakistani workers living in Saudi Arabia are remain the major sender of remittances during the period under review. The country received $1.27 billion from Saudi Arabia during July – August 2022 as compared with $1.37 billion in the corresponding period of the last year, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
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The overall remittances sent by Pakistani workers declined by 3 per cent during first two months (July – August) 2022/2023. The overseas Pakistani workers sent $5.25 billion during first two months of the current fiscal year as compared with $5.42 billion in the same months of the last fiscal year.
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The inflows from the UAE recorded a decline of 8.2 per cent during the period under review. The remittances from the UAE fell to $987 million during first two months of the current fiscal year as compared with $1.07 billion in the same period of the last fiscal year.
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Remittances sent by Pakistani workers living in the USA and the UK were $549 million and $781 million, respectively during the first two months of the current fiscal year.
The foreign inflows received by the country were $2.72 billion in the month of August 2022, which were $2.68 billion in the same month of the last year and $2.52 billion in the previous month (July 2022).
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