Jul-Oct remittances surge by 23%YoY – Alfalah Securities Limited

Karachi: The remittances have surged to USD 4.315 bn during Jul-Oct ‘2011 higher by 23.24% as compared to USD 3.5 bn last year.

According to Alfalah Securities Limited, the flow of remittances has remained steadily rising during the past several years and is expected to cross USD 12 bn in FY12. In Oct ‘2011, USD 1.017 bn were remitted by overseas Pakistanis which is up by 19%YoY. The monthly average remittances during 4M (Jul-Oct) FY12 stood at USD 1.078bn as compared USD 875 mn during the corresponding period last year.

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