Remittance inflow slips by 18.1 Percent

Kathmandu / Sept. 23: Remittance inflow slumped by 18.1 per cent in the period of a month starting from mid-July to mid-August.

The Nepal Rastra Bank (NRB) report on the ” Current Macroeconomic and Financial Situation of Nepal” based on the data of a month released today showed that the remittance decreased to Rs. 75.96 billion in the review period in contrast to the rise of 23 per cent in the same period of the previous fiscal year (FY) when Nepal had received a sum of Rs. 92.74 billion as a remittance.

Meanwhile, the report showed that the number of Nepali workers (institutional and individual-new and legalized) taking approval for foreign employment significantly rose to 13,800 in the review period. The number decreased by 99.2 per cent in the same period of the previous FY when only 140 people had sought approval for foreign employment.

Also, Nepali workers taking approval for foreign employment (Renew entry) rose by 286.1 per cent to 11,628 in the review period. The number had dropped by 80.0 per cent in the same period of the previous FY when only 3,012 people had sought renewal of labour permits for foreign employment.