Tag: remittances
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Remittances boost Pakistan’s current account, August surplus ends deficit streak
Pakistan’s current account, after witnessing three straight months of deficit, recorded a slight surplus in August 2024.
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July remittances post significant hike
The Pakistani diaspora has sent $3 billion back home in July, 48 percent higher than the previous year, The News has reported. State Bank Pakistan (SBP) data shows that remittances from Saudi Arabia increased by 56 percent to $761 million in July, while those from the United Arab Emirates increased by $611 million.The percentage reflected…
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SBP to introduce digital currency in Pakistan with technical support from IMF, World Bank
In a media briefing held today in Karachi, Deputy Governor of the State Bank of Pakistan (SBP), Salimullah, announced that the central bank is currently evaluating the introduction of a digital currency. This project is being pursued with technical support from the World Bank, in collaboration with the International Monetary Fund (IMF). Salimullah highlighted that…
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Record high: Overseas workers’ remittances hit $3.24 billion in May 2024
In May, overseas workers’ remittances soared by 54.2 per cent compared to the same period last year, reaching $3.24 billion, according to the latest data from the State Bank of Pakistan (SBP).
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Pakistan records $397 million current account surplus as exports, remittances increase
In December 2023, Pakistan’s current account exhibited a noteworthy surplus of $397 million, a stark departure from the $15 million deficit recorded in November, as reported by the State Bank of Pakistan (SBP) on Wednesday.
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World Bank greenlights $350 million for Pakistan’s fiscal reforms
World Bank gave its approval on Wednesday for a financing package of $350 million to support Pakistan’s fiscal and competitiveness reforms.
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Overseas workers’ remittances to Pakistan dip to $2.3 billion
In November 2023, overseas workers sent a total of $2.3 billion in remittances to Pakistan, reflecting an 8.6 per cent decrease from the $2.5 billion recorded in October 2023, as per data released by the State Bank of Pakistan (SBP). However, on a yearly basis, there was a 3.6 per cent increase in the monthly…
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PSX hits new record high, crossing 55,000 mark
The Pakistan Stock Exchange (PSX) maintained its bullish trend as the KSE-100 Index surged over 2 per cent, surpassing the 55,000 level and establishing a new record high at 55,391.36. This marked a notable gain of 1129.94 points, or 2.08 per cent, by the end of Friday’s trading session. The intra-day peak of 55,506.32 now…
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SBP reports $112 million increase in workers’ remittances
In September 2023, Pakistan experienced a notable surge in workers’ remittances, marking a 5.3 per cent increase compared to August 2023.
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PM Kakar highlights the positive aspect of Pakistanis going abroad for ‘better opportunities’
it is not wrong to leave Pakistan for opportunities, says Prime Minister Kakar.