Remittances fall to $20.5bn

[maverick1977]

KARACHI: Due to the Ramazan factor, the remittances sent by overseas Pakistani workers grew 27.4 per cent month-on-month in March, but the country lost $2.5 billion in the first nine months of FY23 due to an artificial exchange rate cap.

The State Bank of Pakistan (SBP) reported on Monday that remittances rose to $2.5bn in March against $1.9bn in February. However, the inflows dipped 10.71pc when compared with the $2.8bn the country received in March last year.

Bankers and currency dealers were expecting higher remittances as overseas Pakistanis used to remit more in the holy month for their families and also for charity purposes including Zakat. Currency dealers said remittances usually increase in the range of 15 to 20pc during the fasting month.

“With the cumulative inflow of $20.5bn during the first nine months of FY23, the remittances recorded a decline of $2.491bn when compared with $23.018bn remitted during the same period last year,” the central bank data showed.

Remittances fall to $20.5bn

The country loses $2.5bn in the first nine months of FY23 due to an artificial exchange rate cap.

www.dawn.com

Not sending a single dime to Pakistan anymore, we as a group of friend used to sendd almost $180,000 a year and had a collective investment of 2.4Million Dollars. all taken away from corrupt PDM and establishment. never again we will support Pakistan.

 

[fisher1]

He's not interested in talking about his lies. He wants to focus on a turn of phrase.

I caught you lying. Sorry don’t have interest right now to correct your lies

There’s youthiyas who argue for sake of arguing but there’s youthiyas who make up fake figures and claims, the last group are waste of time because they present figures out of thin air

I placed him on ignore list, he has some mental issues. Wouldnt resolve on pdf.beter not give him attention.

Rather I stopped responding to you because your language was very vulgar and I am certain you’re a Youthiya team worker

Weren't you the one that claimed remittances aren't declining?

English comprehension isn’t your strongest suit I guess