JEDDAH, 19 July 2006 — Remittances from Pakistani expatriates living in Saudi Arabia stood at $750.44 million during the last financial year — the second highest from anywhere in the world.
This figure is even more than the remittances sent by Pakistanis living in all GCC countries except UAE, from where $716 million was remitted during 2005-06. The total foreign exchange earnings from the Kingdom exceed $1 billion if the $350 million export earnings are added.
According to the statistics released by the State Bank of Pakistan the total remittances have increased from $4168.79 million in 2004-05 to $4600 million during 2005-06. The increase is attributed to the positive policies of the government.
