Pakistan overseas remittances up 18 percent

December 14th, 2011 - 4:23 am ICT by IANS  

Islamabad, Dec 14 (IANS) Money sent home by Pakistanis working abroad rose by 18.33 percent to $5.24 billion in the first five months of the current fiscal year, compared with the corresponding period in the previous year.

Of the total remittance, $1.36 billion came from Saudi Arabia, followed by $1.16 billion from the UAE and $975 million from the US, Xinhua reported quoting the official APP news agency Tuesday.

Further, $600 million came from the GCC countries (including Bahrain, Kuwait, Qatar and Oman), $594 million from Britain and $160 million from the European Union, according to data released by the State Bank of Pakistan.

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