Foreign exchange inflows to Pakistan highest in history

FY ‘07-08 has been closed out and we now know how well the country fared in attracting foreign inflows. In short, the numbers look very good. The Business Recorder reports that Pakistan attracted $6.45BN in foreign remittances. This represents growth of almost 18% over FY 2006-07. Not too shabby! In terms of the countries from where these remittances were sent, the US tops the list with about $1.76BN, next come Saudi Arabia and the UAE at $1.25BN and $1.1BN respectively. Fourth on the list are the GCC countries . This distribution makes it apparent how integral inflows from the middle east are in the overall equation.