ISLAMABAD: Imran Khan, the Prime Minister of Pakistan, noticed that the remittances from the overseas Pakistanis had attended the position around $2,768 million in the last month of July 2020. However, it the highest amount recorded in a single month in the history of Pakistan.
More good news for Pak economy. Remittances from overseas Pakistanis reached $2,768 mn in July 2020, highest ever amount in one month in the history of Pakistan. This is 12.2% increase over June 2020 and 36.5% increase over July 2019.
— Imran Khan (@ImranKhanPTI) August 17, 2020
Imran Khan said in a tweet that it is good news for Pakistan that remittance is increasing of $740mn i.e., 36.5% in the last month of July. On the other hand, it increased by $302mn i.e., 12.2% in June.
Besides, the report of State Bank of Pakistan showed that the foreign reserves occupied by the SBP declined by US Dollar 73 million in the week ending 07 August.
Similarly, the reserves are declining because of the government’s external debt repayments.
However, it is also recorded that the foreign reserves held by the State Bank of Pakistan appeared at US$12,469.3 million as it was compared to US$ 7,049.0 million reserved occupied by the commercial banks.