Our Staff Reporter KARACHI - Overseas Pakistani workers remitted an amount of $4,315.07 million in the first four months (JulyOctober) of the current fiscal year 2011-12 (FY12), showing an impressive growth of 23.24 percent or $813.66 million when compared with $3,501.41 million received during the same period of last fiscal year (July- October 2010). The remittances received from all countries of the world showed growth during the first four months of current fiscal year. The inflow of remittances in July-October, 2011 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $1,145.38 million, $963.12 million, $795.35 million, $486.92 million, $486.15 million and $129.81 million respectively as compared with the inflow of $764.31 million, $819.57 million, $666.27 million, $393.24 million, $416.91 million and $117.07 million respectively in July- October 2010. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first four months of current fiscal year (July-October FY12) amounted to $308.34 million as against $324.03 million received in the first four months of last fiscal year (July- October 2010). The monthly average remittances for the July-October 2011 period comes out to $1,078.77 million as compared to $875.35 million during the same corresponding period of the last fiscal year, registering an increase of 23.24 percent. In October 2011, an amount of $1,017.87 million was sent home by overseas Pakistanis, up 19.03 percent, when compared with $855.11 million received in the same month last year. It may be pointed out that except for the month of September 2011; overseas Pakistanis have remitted over $1 billion in July and August of the current fiscal year (FY-2012). In October 2011, the inflow of remittances from Saudi Arabia, UAE, USA, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK, and EU countries amounted to $291.20 million, $216.50 million, $167.60 million, $131.54 million, $117.56 million and $28.08 million respectively as compared with the inflow of $187.99 million, $198.28 million, $154.35 million, $104.18 million, $96.35 million and $32.42 million respectively in October, 2010. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the fourth month of current fiscal year (October FY12) amounted to $65.39 million as against $81.53 million received in the fourth month of last fiscal year (October FY11). The State Bank of Pakistan, Ministry of Finance and Ministry of Overseas Pakistanis had undertaken a joint initiative called 'Pakistan Remittance Initiative (PRI) with a view to facilitating the flow of remittances in the country through formal channels. This initiative has shown remarkable progress.