KARACHI -  Overseas Pakistani workers’ remittances declined by $330 million in first nine months (July to March) of FY17.

Overseas Pakistani workers remitted $14,057.67 million in first nine months (July to March) of FY17, compared with $14,387.79 million received during the same period in the preceding year, showing a decline of $330million. During March 2017, the inflow of worker’s remittances amounted to $1,694.37 million, which is 19.58 percent higher than February 2017 and 1 percent less than March 2016. The country wise details for the month of March 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $504.6 million, $363.24 million, $213.29 million, $209.14 million, $197.21 million and $38.85 million, respectively, compared with the inflow of $514.8 million, $396.35 million, $202.73 million, $202.37 million, $212.47 million and $26.61 million, respectively in March 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during March 2017 amounted to $168.04 million together as against $155.82 million received in March 2016. It is pertinent to mention here that in July-January FY17, the Overseas Pakistani workers’ remittances were declined by $208.34m.