KARACHI: Encouraging collections have been recorded in February 2022 in lieu of remittances. State Bank of Pakistan (SBP) reported that a 2 per cent increase in February’s remittance against that of January.
Total remittances reached $2.2 billion; however, compared to last year a decrease of 2.7pc has also been recorded. The inflow from the United Kingdom stood at $319 million, while from the United States $210 million and the United Arab Emirates $387 million. Saudi Arabia recorded the highest value of remittances worth $558 million.
In the current fiscal year (from July to February), a 7.6pc increase has been recorded in remittances. Last year during the same period the value stood at $20.1 billion.