The remittance flow has increased to 26%, with a record run of above $2 billion in remittances for the 10th consecutive month in March, said the State Bank of Pakistan on Monday.
SBP took it to Twitter saying,
“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.”
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
On the occasion Prime Minister Imran Khan lauded the overseas Pakistanis on Twitter, on Monday, for their ‘unparalleled commitment’ to making Pakistan strong.
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
Pakistan had reported a 24.2% jump in February in remittances. According to the SBP, the development came on the heels of government incentives that attracted people abroad to send more money home through formal channels.
