Remittances rise 13pc to $3.6bn in July

KARACHI: Remitta­nces sent by overseas Pakistanis in the first month of the current fiscal year met the government’s expectations, with significant growth compared with the preceding month. The latest data issued by the State Bank of Pakistan (SBP) on Monday showed that inflows were 13 per cent higher in July than in the same month of the previous fiscal year. The country received a total of $3.6 billion in July, compared with $3.2bn in the same month last year. Month-on-month, the growth was 4.5pc. The inflows are encouraging for the government, which has set an ambitious $44bn remittance target for FY27, up from $41.5bn in FY26. Inflows from Middle East stay robust amid ongoing war…