Pakistan’s remittances have continued to exceed US$ 2 billion mark for the 10th consecutive month, said State Bank Of Pakistan (SBP) on Monday (today).
According to SBP, remittances have continued their record run of above US$ 2 billion for 10th consecutive month in March with a 20 % increase as compared to February 2021 earlier this year.
Remittances continued their record run of above $2bn for 10th consecutive month in Mar. At $2.7bn, they were up 20% compared to Feb & 43% compared to Mar20. Cumulatively, they have risen to $21.5bn during Jul-Mar FY21, up 26% over the same period last year:https://t.co/NMRGk3VCx5 pic.twitter.com/iTm8SlJFbg
— SBP (@StateBank_Pak) April 12, 2021
Meanwhile, US$ 2.7 billion in remittances is an increase of 43 % as compared to March 2020 last year.
Pakistan’s remittances between July 2020 and March 2021 have been recorded at US$ 21.5 billion i.e. an increase of 26% as compared to the same time period in the previous fiscal year.
PM Imran Khan has also lauded oversees Pakistanis for their notable contribution to country’s economy via their invaluable remittances.
The love and commitment of Overseas Pakistanis to Pakistan is unparalleled, he tweeted.
The love & commitment of Overseas Pakistanis to Pakistan is unparalleled. You sent over $2bn for 10 straight mths despite Covid, breaking all records. Your remittances rose to $2.7bn in Mar, 43% higher than last yr. So far this fiscal yr, your remittances rose 26%. We thank you
— Imran Khan (@ImranKhanPTI) April 12, 2021
The premier expressed gratitude to overseas Pakistanis and apprised that oversees Pakistanis sent more than US$ 2 billion per month for a continued period of 10 months despite COVID-19 and its economic repercussions.