Engineering Post Report
Remittances sent by Overseas Pakistanis back home to their families through proper official channels keep fluctuating and dropped by 9 percent in November2023 as compared to the previous month of October 2023.
Overseas Pakistanis residing and working in a large number of foreign countries sent $ 2.2 billion in remittances through the official channel of State Bank of Pakistan in November 2023 showing a marginal increase of 4 percent from the same month. However, This showed a 9 percent decrease on a month-to-month basis from October 2023.
The main sources of workers remittances in November 2023 were Saudi Arabia $ 540.3 million, the United States of Arabia (UAE) $ 409.4 million, the United Kingdom (UK) $ 341.7 million and the USA $ 261.5 million. Inflow of Overseas Pakistani workers remittances back home was recorded at $ 11 billion during the first five months of the current financial year July to November 2023. This showed a 10 percent decrease as compared to the corresponding period of the last financial year 2022-23.