Significant reduction in remittances from foreign countries

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ISLAMABAD (Dunya News) – Board of Investment in Islamabad has told Dunya News that Pakistanis living in foreign countries sent $1.5 billion worth cash to their home country in 2016 while this figure is 1.2 percent less as compared to 2015.

People from Pakistan that are currently resided outside sent about $940 million in remittances to Pakistan during the first interval of six months in 2016. However, the amount is $280 million lesser than that of in last year.

About $470 million came from Saudi Arab, $340 million from United Arab Emirates (UAE), and $140 million each from United Kingdom (UK) and United States of America (USA).

$165.76 million was total amount sent from Norway, Switzerland, Australia, Canada, Japan and other countries to Pakistan. However, the amount was calculated to be $131.24 in December, 2015.