Remittances observed at highest in FY21

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KARACHI: As per the data released by the State Bank of Pakistan, the overseas Pakistanis for the consecutive 13th month have sent remittances above $2bn.

According to the data, the remittance sent by overseas Pakistanis in the month of June is observed at Rs2.7bn showing a growth of 8pc on a month-on-month basis.

Similarly, on a year-on-year basis, the growth in remittances is recorded above 9pc.

As per the statement of the Central Bank, the reason behind the increase in remittances is the upcoming Eid-ul-Adha and the effective policy implementation of the government and compelling the people to use formal banking channels.

The country-wise breakdown of remittances during FY21 included $7.7bn from Saudi Arabia, $6.1bn from United Arab Emirates (UAE), and $4.1bn from the United Kingdom.


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Punjab govt spends highest development budget in last 10 years

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LAHORE: The Punjab government has consumed a historic 97 per cent of the Annual Development Programme (ADP) budget for the development of Punjab. 

According to Planning and Development Board Chairman Abdullah Khan Sumbal, ADP budget for the financial year 2020-2021 was Rs308 billion of which Rs300.77 billion has already been consumed. This is the highest percentage consumption in the last 10 years. 

On the directives of Chief Minister Usman Buzdar, the development funds have been focused on new and ongoing uplift schemes. 

The highest utilisation of the budget has been attributed to effective monitoring by the P&D Board and the supervision of administrative secretaries. 

As per details, the education sector received Rs29.6bn while the health sector received Rs57.163bn. In addition, 93 per cent of agriculture funds have been utilised of which 93 per cent were spent on social welfare, 96 per cent on transport, 91 per cent on irrigation and 98 per cent on  urban development. Funds allocated for water supply, roads and social welfare have been utilised in full. 


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Highest number of exports recorded in FY21: Razak Dawood

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ISLAMABAD: Adviser to Prime Minister on Commerce, Abdul Razak Dawood on Thursday informed that exports reached the country’s highest in the FY21.

Taking on to Twitter, the adviser to PM informed that exports of Pakistan were recorded at $25.3bn while the earliest highest number of exports were recorded at $25.1bn in FY 2013-2014.

He also stated that the exports of goods in the month of June 2021 were the highest than any other month at $2.7bn while the earlier highest was at $2.6bn in September 2013.

The minister also felicitated the exporters on achieving this milestone as the economy had suffered amidst the pandemic.


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