Overseas workers' remittances up 27.4% MoM, clock in at $2.5bn in March

[VCheng]

Nonsense. The only money coming inti Pakistan right now from overseas Pakistanis is family support. Money coming in as investment is non existent.

Only a fool would invest during daku raj.

Doler is doler. Any hard currency coming into the country helps its books.

 

[El Sidd]

So you like to watch do you. Well whatever floats your boat

A hunt is a thing of beauty.

 

[RescueRanger]

A hunt is a thing of beauty.

Depends what you are hunting.

 

[El Sidd]

Depends what you are hunting.

i see it otherwise.

 

[fisher1]

Nonsense. The only money coming inti Pakistan right now from overseas Pakistanis is family support. Money coming in as investment is non existent.

Only a fool would invest during daku raj.

It is now certified that youthiyas just like their leader are all liars and propagandists. Here, eat it

Roshan Digital Account inflows surpass $6bn mark in April

Total inflows through Roshan Digital Account (RDA) from overseas Pakistanis surpassed the $6 billion mark in the first week of April, figures released by the State Bank

www.nation.com.pk

This was started by PTI, wasn’t it? It’s doing more than fineeee and doesn’t look non-existent.

Even in Ramadan, there’s no stop to the lies and propaganda

 

[El Sidd]

Watch your bagarati zabaan. Idiot thinks I'll leave my mother in a shithole you call a country.

My mother lives with me in the US. Now re-read my comment and figure out who's getting my money.

The level of education from the supposed "educated" is USD sent to Pakistan "is only benefiting the families" of OSPs. No sire, the USDs remitted is benefiting the 100PKR subsidy you all love.

It's not your money. Tell Aunty thanks.

 

[313ghazi]

It is now certified that youthiyas just like their leader are all liars and propagandists. Here, eat it

Roshan Digital Account inflows surpass $6bn mark in April

Total inflows through Roshan Digital Account (RDA) from overseas Pakistanis surpassed the $6 billion mark in the first week of April, figures released by the State Bank

www.nation.com.pk

This was started by PTI, wasn’t it? It’s doing more than fineeee and doesn’t look non-existent.

Even in Ramadan, there’s no stop to the lies and propaganda

Chaval patwari - if it has crossed $6 billion so what? What is the rate of investment flowing into it? It is extremely low at best.

 

[lightning F57]

So you like to watch do you. Well whatever floats your boat

His an armchair watching hunter

It is now certified that youthiyas just like their leader are all liars and propagandists. Here, eat it

Roshan Digital Account inflows surpass $6bn mark in April

Total inflows through Roshan Digital Account (RDA) from overseas Pakistanis surpassed the $6 billion mark in the first week of April, figures released by the State Bank

www.nation.com.pk

This was started by PTI, wasn’t it? It’s doing more than fineeee and doesn’t look non-existent.

Even in Ramadan, there’s no stop to the lies and propaganda

So let's get this straight your using a PTI success to critisize them?

Let's see if remittances sustain this kind of increase after eid. Highly doubt they will.

The one point you and some others are missing expats would be investing a heck allot more if the corrupt pdm were not in power.

 

[Hexlor]

Remittances received during PTI's final year in government (21-22, Mar-Apr) - $31.364 Billion

Remittances received since PDM took over (22-23, May-Mar) - $25.63 Billion

PTI's average remittances received per month - $2.613 Billion

PDM's average remittances received per month - $2.33 Billion

Overall that is a 10.8% decline every month on average during PDM's reign. Even the "amazing" month this news is referring to is over 15% lower compared to last year.

Who would've thought that alienating your economy's biggest source of foreign currency is a bad idea... PDM is just a bunch of idiots, the less said about their supporters the better.

 

[fisher1]

Chaval patwari - if it has crossed $6 billion so what? What is the rate of investment flowing into it? It is extremely low at best.

>Non-existent vs 6 billion USD

Chup bs chup

So let's get this straight you’re using a PTI success to critisize them?

Simply pointing out his lies and propaganda

 

[Cash GK]

.,.,

Overseas workers' remittances up 27.4% MoM, clock in at $2.5bn in March​

• Inflow highest since August 2022, attributed to Ramadan factor
• Cumulative figure for July to March 2022-23 stands at $20.527bn, 10.8% lower year-on-year

BR
April 10, 2023

Inflow of overseas workers’ remittances registered a significant increase to clock in at $2.5 billion in March 2023, an increase of 27.4% on a month-on-month basis, as compared to $1.98 billion in February 2023, showed data released by the State Bank of Pakistan (SBP) on Monday.

The inflows were the highest recorded since August 2022, and attributed to the Ramadan factor.

“This is a seasonal rise due to the ongoing month of Ramadan, where a lot of funds are remitted on account of Zakat and other charities, which is reflected in the increase in remittances,” Saad Khan, Head of Research at IGI Securities, told Business Recorder.

“On account of increase in remittances, the current account deficit for the month of March is likely to be negligible, and there is also a strong possibility of a current account surplus this month,” he added.

On a yearly basis though, the inflow of remittances registered a decline of 11%, as they stood at $2.83 billion in the same month of the previous year, the data showed.

On a cumulative basis, the inflow of remittances during the July to March period of the fiscal year 2022-23 stood at $20.527 billion, 10.8% lower than $23.018 billion in the same period of the previous fiscal year, a decline of nearly $2.5 billion.

“During the FY22 the average remittance figures stood at $2.6 billion, so the latest figures are not too exciting,” said Khan.

The market expert said that on an annualised basis, the ongoing rupee depreciation and the increase in black market premiums have become a major headache, as people are diverting their inflows from formal channels.

“The problem of hawala and hundi remains rampant, which is being reflected in the cumulative decline,” he added.

Overseas Pakistanis in Saudi Arabia remitted the single largest amount in March 2023 as they sent $564 million during the month. This was nearly 18% lower than the $686 million sent by expatriates in the same month of the previous year.

Inflows from the United Kingdom inched up 5% as they increased from $402 million in March 2022 to $422 million in March 2023.

Remittances from the United Arab Emirates amounted to $407 million during the month, a decline of 22% compared to $521 million in March 2022.

Moreover, remittances from the European Union increased 6% as they amounted to $299 million in March 2023. Overseas Pakistanis in the US sent $316 million in March 2023, registering a year-on-year growth of 5%.

Overseas workers' remittances up 27.4% MoM, clock in at $2.5bn in March

Inflow highest since August 2022, attributed to Ramadan factor * Cumulative figure for July to March 2022-23 stands at $20.527bn, 10.8% lower year-on-year

www.brecorder.com

220 millions feed by two millions abroad living Pakistanis. Remittance are way above what 220 making for Pakistan. What a shame

 

[313ghazi]

>Non-existent vs 6 billion USD

Chup bs chup



Simply pointing out his lies and propaganda

6 billion since inception or 6 billion in the last year? Why are you trying to hide behind a false narrative.

Guess you can't shake the chaska of donkey Biryani.