In five months foreign remittances have jumped over 12%

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According to a report by the State Bank of Pakistan (SBP), from $8.021bn in same period last year, remit­tances from overseas Pakistanis jumped 12.5 per cent to $9.028 billion in the first five months of this fiscal year. Bankers believe that the tightening of illegal money transactions are forcing people to utilize proper banking channels, hence the spike in recorded numbers.

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