Remittances crosses USD 13 billion mark in FY12 – Alfalah Securities Limited

Karachi, July 11, 2012 (PPI-OT): The overseas workers’ remittances were recorded at USD 13.186 billion in FY12, depicting a growth of 17.73% as compared to USD 11.200 billion received in FY11.

According to Alfalah Securities Limited, the monthly average remittances stood at USD1.098 billion in FY12 as compared to USD 933.41 million last year. In June, remittances stood at USD1.117 billion as compared to USD 1.104 billion in the same month last year. The remittances have remained strong witnessing a rising trend which is quite encouraging for economic well being of Pakistan.