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KARACHI, Aug 1 Asia Pulse - Home remittances or the amount of foreign exchange sent back home by overseas Pakistanis totalled US$1.021 billion in fiscal (July/June) 2000-01 crossing the US$1 billion mark after two years.
In 1998-99 home remittances had fallen to $875 million showing the loss of confidence of overseas Pakistanis in the country's banking system. Pakistan had frozen $11 billion worth of foreign currency deposits most of which belonged to overseas Pakistanis after going nuclear on May 28, 1998 to avoid default on payments.
In 1999-00 the situation improved and home remittances ...