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PM appreciates rising remittances despite COVID fear

Prime Minister Imran Khan expressed his gratitude over the continuous increase in remittances.

In his tweet Imran said:

“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”

Meanwhile, State Bank in its handout said that workers’ remittances remained above $2 billion for the fourth consecutive month in September. They increased to $2.3 billion, 31.2% higher than the same month last year, and 9% higher than in August. On a cumulative basis, remittances rose to a record $ 7.1 billion in the first quarter of this fiscal year, 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.

Report by: The Truth International

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