ISLAMABAD: For the first time, the inflows of remittances in Pakistan exceeded $31 billion in a year. In the fiscal year 2021-22, the expatriates sent $31.20 billion worth remittances to Pakistan.
In percentage, the remittances showed 6.1% growth when compared to remittances received in FY21.
In terms of growth, remittances increased by 18.4% compared to May’s $2.33 billion as Pakistanis abroad sent more money for their families and friends to celebrate Eidul Azha with traditional religious enthusiasm.
Remittance inflows during June this year mostly originated in Saudi Arabia from where Pakistanis sent $666 million while $495 million were sent from Pakistanis in the United Arab Emirates.
The inflows of remittances are also expected to show a significant rise in July because the Eidul Azha was celebrated in Pakistan from July 10-12 while the government had declared five public holidays on this occasion.
