KARACHI: Receiving remittances over $2 billion for six consecutive months, the State Bank of Pakistan (SBP) recorded inflows worth $2.27 billion in January 2021, marking a surge of 19%.
The remittances received in January 2020 were recorded at $1.9bn.
Moreover, the volume of remittances in the first seven months (Jul-Jan) of the current fiscal year grew by 24% and reached $16.47bn as compared to the volume of $13.27bn same periods of last year.
In the light of surging remittances, the SBP has readjusted its targets of receipts to $24-25bn for FY21 in January. Previously, the projections were estimated to be around $23-24bn.
Moreover, the projections of the current account deficit have also been altered and stand at 0.5-1.5% of GDP against the earlier estimates of 1-2.0% of GDP.
The construction and real estate sector of Pakistan are the major recipients of the remittances of overseas Pakistanis.
For news and blogs, visit Graana.com.
Islamabad: The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved two key…
Rawalpindi: A long-awaited remodelling project for Kachehri Chowk, one of Rawalpindi’s busiest intersections linking the…
Islamabad: The Federal Government Employees Housing Authority (FGEHA) on Tuesday signed a Memorandum of Understanding…
Lahore: The Lahore Development Authority (LDA) has announced plans to launch development works in the…
KARACHI: The Sindh government is set to launch the Lyari Transformation Project this year to…
Islamabad: The Capital Development Authority (CDA) has added two major infrastructure initiatives to its latest…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
