remittances Archives - Page 4 of 8

Remittances from UAE into Pakistan plummet by 31% in July 2023

August 10, 2023August 10, 2023Shahnawaz Akhter

Karachi, August 10, 2023 – The State Bank of Pakistan (SBP) has reported a significant drop in remittances from Pakistani workers in the United Arab Emirates (UAE) during the month of July 2023, revealing a concerning decline of 31 percent compared to the same period in the previous year.

Remittances Plunge by Approximately 14% in 2022-23, Reveals State Bank of Pakistan

July 10, 2023July 10, 2023Shahnawaz Akhter

Karachi, July 10, 2023 – Workers’ remittances flowing into Pakistan have experienced a significant decline of around 14%, amounting to $24.02 billion in the fiscal year 2022-23, according to official data released by the State Bank of Pakistan (SBP) on Monday.

FBR Exempts Foreign Inflows Up To $100,000 From Scrutiny

June 10, 2023June 10, 2023Shahnawaz Akhter

In a significant development, the Federal Board of Revenue (FBR) has introduced an amendment through the Finance Bill, 2023, indicating that it may not scrutinize foreign inflows up to $100,000 in a year.

Pakistan mulls relaxing disclosure limit of foreign exchange in local currency

April 29, 2023April 29, 2023Mrs. Anjum Shahnawaz

Pakistan is likely to relax the limit to disclose foreign exchange in local currency under tax laws after experiencing a significant depreciation in the local currency over the past few years.

Pakistan’s remittances drop to $20.53 billion in 9 months of FY 2022/23

April 10, 2023April 10, 2023Faisal Shahnawaz

Pakistan has witnessed an 11% decline in remittances during the first nine months (July-March) of fiscal year 2022/2023 to $20.53 billion.

Pakistan witnesses 11% fall in workers’ remittances during 8MFY23

March 10, 2023March 10, 2023Hamza Shahnawaz

KARACHI: Inflows of workers’ remittances recorded a decline of 11 per cent in eight months (July – February) of fiscal year 2022-2023, according to data released by the State Bank of Pakistan (SBP) on Friday.

Workers’ remittances fall by 11pc in 1HFY23: SBP

January 13, 2023January 13, 2023Hamza Shahnawaz

KARACHI: The inflow of workers remittances declined by 11 per cent in first half (July – December) of fiscal year 2022-2023, according to data released by State Bank of Pakistan (SBP) on Friday.

Careem launches services for money transfer from UAE to Pakistan

January 11, 2023January 11, 2023Faisal Shahnawaz

KARACHI: Careem has launched pay services for money transfer from UAE to Pakistan, according to a statement issued on Wednesday.

Pakistan registers 10pc decline in inflow of foreign remittances

December 14, 2022December 14, 2022Hamza Shahnawaz

KARACHI: Pakistan has registered around 10 per cent decline in inflows of foreign remittances during first five months (July – November) of current fiscal year. According to data released by State Bank of Pakistan (SBP) on Wednesday, the inflows of workers remittances declined to $12 billion during first five months of the current fiscal year […]

Pakistan remittances decline by 15.7% in October 2022

November 11, 2022November 11, 2022Faisal Shahnawaz

KARACHI: Inflow of workers remittances has declined by 15.7 per cent in the month of October 2022 when compared with the same month of the last year, according to data released by State Bank of Pakistan (SBP) on Friday. READ MORE: Home remittances decline to $7.68 billion in 1QFY23 The inflows of home remittances fell […]

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