Karachi: Remittances by overseas Pakistan increased to USD 19.62 billion during the Fiscal Year 2017-2018, according to a news report. This is an increase of 1.4% from the USD 19.35 billion collected during last year. Adding on this, the State Bank of Pakistan has reported that the inflows during June fell to USD 1.59 billion, a decrease of 13.36%, from last year\u2019s USD 1.84 billion.<\/p>\n
During this period, the highest source of remittances has remained Saudi Arabia, with inflows amounting to USD 4.86 billion, although this is still 11.17% less than previous years. Low remittances can be attributed to strict taxation laws introduced by the Saudi authorities. Remittances from other Gulf countries have also decreased by 7.19% during FY18, whereas inflows from the European Union recorded a growth of 35.92% during the same period. The largest increase has come from Spain, at a growth of 132.06%, whereas Oman has accounted for the steepest fall at 13.61%.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi: Remittances by overseas Pakistan increased to USD 19.62 billion during the Fiscal Year 2017-2018, according to a news report. This is an increase of 1.4% from the USD 19.35 billion collected during last year. Adding on this, the State Bank of Pakistan has reported that the inflows during June fell to USD 1.59 billion, a decrease of 13.36%, from last year\u2019s USD 1.84 billion. During this period, the highest source of remittances has remained Saudi Arabia, with inflows amounting to USD 4.86 billion, although this is still 11.17% less than previous years. Low remittances can be attributed to strict taxation laws introduced by the Saudi authorities. Remittances from other Gulf countries have also decreased by 7.19% during FY18, whereas inflows from the European Union recorded a growth of 35.92% during the same period. The largest increase has come from Spain, at a growth of 132.06%, whereas Oman has accounted for the steepest fall at 13.61%.<\/p>\n","protected":false},"author":60,"featured_media":34735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[4459,4579],"persona":[],"class_list":{"0":"post-40163","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-increase","8":"tag-remittances"},"acf":[],"yoast_head":"\n