Remittances of South Korean-Pakistanis fall in first quarter

Islamabad: The remittances of Pakistanis working in South Korea have recorded a slight decrease on annual basis in the first quarter of the current financial year.

According to the data released by State Bank of Pakistan (SBP), in the first quarter of the financial year, Pakistanis working in South Korea sent $24.3 million as foreign exchange to the country, which is 0.9 percent less than the same period of the previous financial year.

In the same period of the last financial year, Pakistanis working in South Korea had sent 24.5 million dollars as foreign exchange to the country.

In September, the remittance volume of Pakistanis working in South Korea was recorded at 7.3 million dollars, which was 7.8 million dollars in August and 7.6 million dollars in September last year.

It is pertinent to note that in the first quarter, the total volume of remittances of overseas Pakistanis has been recorded at $6.329 billion, which was 7.897 billion dollars in the same period of the previous financial year.