Home remittances by Overseas Pakistanis keep going up and down

Engineering Post Report

Remittances by a large number of Pakistanis working in  a number of countries around the world  sending back home to  their families through proper  channels keep going up and down owing to various reasons and developments taking place  at their places of working every now and then.

While workers remittances increased by 13 percent to $ 2.38 billion  in December 2023 as compared  to $ 2.10 billion in December 2022 and  showing improvement  of 5.5 percent  to $ 2.26 billion in November 2023, cumulatively the workers remittances slowed down by 7 percent in the first half of the financial year to $ 13.45 billion  from July to December 2023 . Comparatively, workers had remitted $ 14.42 billion  during the first half of the last financial year.2022-23.

According to the figures officially available, remittances back home  in  December 2023  mainly came  from Saudi Arabia $ 577.6 million, United Arab Emirates (UAE) $ 419.2 million, the United Kingdom (UK) $ 368.00 million and the United States (USA) $ 263.9 million.