The State Bank of Pakistan has clarified the details of works remittance for March 2023.
The State Bank has made it clear that workers’ remittances have reached about $2.54 billion in the month of March and this remittance is about $54.50 million more than in February.
Apart from this, the central bank said that the remittance recorded in March 2023 is more than 27.5 percent compared to February, in which $560 million came to Pakistan from Saudi Arabia and about $400 million was sent from the United Arab Emirates.
Along with this, the State Bank also clarified that in the month of February, 420 million dollars were sent from the United Kingdom, while 310 million dollars came to Pakistan from the United States. In addition, from July 2022 to March 2023, Pakistanis living in Saudi Arabia sent 4.92 billion dollars to Pakistan. Sent and incoming remittances have decreased by 16-17% in these 9 months.
Along with this, 3.61 billion dollars were sent from UAE to Pakistan in these 9 months.
Let us tell you more that people living in the United Kingdom have sent 3 billion dollars to Pakistan in these nine months, while 2.41 billion dollars were sent to Pakistan from the Gulf countries.
Apart from this, Pakistanis living in the European Union have sent remittances worth 2.34 billion dollars to Pakistan and remittances from the US in these nine months have reached about 2.26 billion dollars to Pakistan.
Also, the remittances to Pakistan in these 9 months are about 20 billion 52 million dollars.
Let us tell you that the remittances in these nine months are 11% less than the nine months of last year.