The workers’ remittances grew by 11.3 percent during the first half of the current fiscal year as compared to the corresponding period of last year, the State Bank of Pakistan (SBP) reported on Friday. The workers’ remittances from July-December 2021-22 were recorded at $15.8 billion, according to figures released by SBP. Meanwhile, with $2.5 billion of inflows during December 2021, workers’ remittances continued their strong impetus of remaining above $2 billion since June 2020. In terms of growth, remittances increased by 2.5pc on a month-on-month basis and 3.4 pc on a year-on-year basis in December 2021. Remittance inflows during December 2021 were mainly sourced from Saudi Arabia ($626.6 million), the United Arab Emirates ($453.2 million), the United Kingdom ($340.8 million), and the United States of America ($248.5 million). The proactive policy measures by the government and SBP to incentivize the use of formal channels and altruistic transfers to Pakistan amid the pandemic have positively contributed towards the sustained inflows of remittances since last year, the SBP statement added. The Jul-Nov FY22 data of workers’ remittances have been revised upward to reflect inflows into Roshan Digital Accounts (RDA) that are related to local consumption (like payment of utility bills, transfer to local PKR account, etc.). Since data on these conversions were not previously available by country, these were reported under ‘other private transfers’ in the balance of payments statistics. The December 2021 data is also compiled accordingly, and this treatment will be followed going forward, the statement added.