The remittances sent by overseas Pakistani workers dipped month-on-month by 4 per cent and 10pc year-on-year to $2.1 billion in May.
The latest data released by the State Bank of Pakistan (SBP) on Tuesday showed that the country lost $3.7bn in remittances during the first 11 months of FY23, mainly due to a widening exchange rate gap.
The inflows tumbled by 12.98pc to $24.831bn in 11MFY23 compared to $28.489bn in the same period of last fiscal year. The country has been struggling hard to get a $1.1bn tranche from the IMF for a year, but the shrinking inflows of remittances could make it more difficult for the country to manage the
