KARACHI - Overseas workers’ remittances remained over dollars two billion in fourth consecutive month of Sept 2020. These increased to $2.3 billion; 31.2 percent higher than same month last year and 9 percent higher than of August 2020. 

On a cumulative basis, remittances rose to a record figure of $7.1 billion in the first quarter of fiscal years 2020-21--31.1 higher than the same period of last year, SBP statement said on Monday.

The level of remittances in Sept 2020 was slightly higher than SBP’s projections of $2 billion. The efforts under Pakistan Remittances Initiative and the gradual re-opening of major host destinations such as Middle East, Europe and United States contributed to the sustained increase in the workers’ remittances.