Workers’ remittances rise record high in FY22

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KARACHI, Jul 18(ABC): Remittances from overseas Pakistanis, in June 2022, rose to $2.76 billion increasing by 18.4 percent on a month-on-month basis and 1.7 percent on a year-on-year basis.

During the last month, the remittances were mainly sourced from Saudi Arabia ($666 million), United Arab Emirates ($495 million), United Kingdom ($455 million) and United States of America ($285 million), said a statement issued by State Bank of Pakistan on Monday. Cumulatively, in the financial year 2022, remittances rose to a record $31.2 billion, increasing by 6.1 percent compared to fiscal year 2021.