Remittances increase to record $7.1 billion: SBP

SBP extends relaxation of biometric verification of dormant accounts

KARACHI: The State Bank of Pakistan (SBP) on Monday stated that remittances reached a record level of $7.1 billion in the third quarter of the current financial year.

The State Bank of Pakistan said in a statement that remittances from Pakistanis abroad reached more than 2 2 billion and remittances reached a record high of 7.1 billion in the third quarter of the financial year.

According to the SBP, remittances in September stood at more than 2 2 billion for the fourth consecutive month and increased by 31.2 percent this year compared to the same month last year.

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Regarding the economy, Prime Minister Imran Khan said that despite the coronavirus, there was more good news for our economy. He, in a tweet also wrote that the remittances reached 3 2.3 billion last month.

The prime minister said remittances were up 31 percent from last September and more than 9 percent since August, the fourth month that remittances had exceeded 2 2 billion.


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