Prime Minister Imran Khan has been full of praise for foreign Pakistanis as workers’ remittances exceeded $ 2 billion for the eighth consecutive month and reached $ 2.3 billion in January 2021. This represents a record increase compared to the same period last year.
Prime went on Twitter share the news and praise Pakistanis overseas for their contribution.
Remittances from Pakistanis abroad were $ 2.27 billion in January, 19% more than January 2020 – the 8th consecutive month of remittances over $ 2b, he said.
So far in this fiscal year they have increased 24% compared to last year. This is a record for our country and I thank our Pakistanis abroad, added the prime minister.
On a cumulative basis, workers’ remittances reached $ 16.5 billion during FY21 July-January, recording a 24 percent increase compared to the same period last year.
According to the details, a large part of workers’ remittances during July-January FY21 was provided by Saudi Arabia ($ 4.5 billion), the United Arab Emirates ($ 3.4 billion), the United Kingdom ($ 2.2 billion) and the United States ( $ 1.4 billion).
The central bank was of the opinion that this steady increase in remittances of workers mainly reflects the increasing use of the banking channel attributed to the ongoing efforts by the government and the State Bank of Pakistan (SBP) to attract inflows through the official channel, transboundary travel limited between the second wave of COVID-19 and the flexible exchange rate regime.
Information Minister Shibli Faraz has said an increase in remittances is a clear indication that Pakistanis abroad trust the transparent leadership of Prime Minister Imran Khan.
Earlier today, in another tweet, The Prime Minister also said that the industrial sector is witnessing a significant growth.
Good news from the industrial sector as well, showing steady growth, Prime Minister Imran Khan wrote on Twitter. Large-scale production saw another double-digit growth in December 2020 – 11.4% increase compared to December 2019. Cumulative growth July – December over 8% now.
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