Pakistan remittances to reach all-time-high in March: SBP governor
Says remittances in upcoming months might be between $4 to $5 billion per month
Business Desk
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Money sent home by overseas Pakistanis will touch an all-time high in March, crossing $4 billion, State Bank of Pakistan Governor Jameel Ahmed said on Monday.
He made the remarks while addressing a gong ceremony at the Pakistan Stock Exchange.
The remittance data is likely to be released soon.
The government earlier expected that remittances would reach $36 billion. However, the governor expected that remittances might touch $38 billion mark — a record level.
The SBP governor said that the remittances in upcoming months might be between $4 to $5 billion per month.
The higher inflows would help bolster the foreign exchange reserves to reach $14 billion before end of this financial year, he said.
The total foreign debt payable for the current fiscal year was around $26 billion, of this nearly $16 billion has been rolled over or refinanced.
Out of $10 billion, nearly $8 billion has been paid off while $2 billion has to be arranged by end of this fiscal year.
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