Worker Remittances in September rose to USD 2.3 Billion: PM

October 12, 2020 (MLN): Remittances from our hardworking overseas Pakistanis rose to $2.3 bn in Sept 2020, 31% higher than last Sept & 9% higher than August 2020.

The Prime Minister tweeted these figures in the early on Monday.

According to the PM "Despite Covid more good news for our economy. Alhamdulillah, remittances from our hardworking overseas Pakistanis rose to $2.3 bn in Sept 2020, 31% higher than last Sept & 9% higher than August 2020. This marks the 4th consecutive month that remittances have remained above $2 bn".

Additionally, a Press release from the State Bank added:

•    Workers’ remittances remained above $2 billion for the fourth consecutive month in September.  They increased to $2.3 billion, 31.2 percent higher than the same month last year and 9 percent higher than in August.
•    On a cumulative basis, remittances rose to a record $ 7.1 billion in Q1-FY21, 31.1 higher than the same period last year.
•    The level of remittances in September was slightly higher than SBP’s projections of $ 2 billion.  Efforts under the Pakistan Remittances Initiative (PRI) and the gradual re-opening of major host destinations such as Middle East, Europe and United States contributed to the sustained increase in workers’ remittances.

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