Remittances increase by 16.5 percent

Kathmandu: Remittances of Rs. 729 billion have been received from abroad in the first nine months of the current fiscal year. This is 16.5 percent more than the same period of previous fiscal year.

The remittance inflow had decreased by 4.2 percent in the corresponding period of the previous fiscal year.

Despite the increase in remittances, the number of people going for foreign employment has been declining. According to the NRB, the number of Nepalis seeking final labor permits (institutional and individual-new and legalized) for foreign employment has decreased by 66.7 percent in the last nine months.

Such number had increased by 10.2 percent in the corresponding period of the previous year. The number of Nepalis seeking re-employment for foreign employment decreased by 55.7 percent during the review period. Such number had decreased by 15.0 percent in the corresponding period of the previous year.

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