Remittances surge 31.2pc in September.

ISLAMABAD -- The workers' remittances sent by the overseas Pakistanis surged by 31.2 per cent to $2.3 billion in September against same month of last year. The remittances stood at above $2 billion for fourth consecutive month in September, said a statement issued by the State Bank of Pakistan (SBP). On month on month basis, the remittances also witnessed an increase of 9 per cent in September when compared to the inflow of $2.095 billion recorded during August this year.

The average inflow during first quarter of current fiscal year July-Sept (2020-21) also witnessed a sharp increase of 31.1 percent as it rose to $7.1 billion against $5.45 billion in same period of previous year. The statement added that the level of remittances in September was slightly higher than SBP's projections of $2 billion. Efforts under the Pakistan Remittances Initiative (PRI) and the gradual re-opening of major host destinations such as Middle East, Europe and United States...