'Home remittances suffered lower than expected losses'.

ISLAMABAD -- Pakistan has suffered lower than estimated losses to its home remittances after Covid-19 due to timely actions and facilitation to senders, recipients and processing banks.

'Remittances to Pakistan declined by 4.3 per cent (year-on-year) during March-May 2020 compared with the World Bank's forecast of 23pc decline for 2020,' Secretary Finance Naveed Kamran Baloch told a webinar organised by DFID and UKAid.

He said the decline in case of Bangladesh was 16.7pc during March-May 2020, the only comparable regional data available. The DFID and UKAid had organised the function to mark the Call to Action and the International Day of Family Remittances Action, an official statement said.

Mr Baloch said the initial assessment in Pakistan had suggested a sharp decline in...