Pakistan records 56% higher remittances than last year

F.P. Report

ISLAMABAD: Prime Minister Imran Khan thanked on Tuesday overseas Pakistanis once again for ensuring that the country recorded remittances at an all-time high of $2.8 billion in April, 56% higher than last year.

“I have always believed Overseas Pakistanis to be our greatest asset. In April, your remittances rose to an all-time high of $2.8bn. Remitting $24.2bn in the first 10 mths of FY21, you have broken the record level achieved in the entire FY20,” the premier wrote on Twitter.

He also thanked the expats for their faith in Naya Pakistan.

Meanwhile, the state bank of Pakistan also tweeted the update. “At $24.2bn during Jul-Apr FY21, up 29% from last year, these have also surpassed the full FY20 level by over $1bn, creating a new record,” the central bank said on Twitter.

Pakistan had seen an increase of 26% in remittances, with a record run of above $2 billion in remittances for the 10th consecutive month in March.

“At $2.7bn, the remittances were up 20% compared to February and 43% compared to March 20. Cumulatively, the remittances have risen to $21.5bn during July-March FY21, up 26% over the same period last year,” the central bank had said on Twitter.