By Karuna Thapa
Kathmandu, April 12
Inflows of remittances have increased. Remittances of Rs. 631.19 billion were received in the first eight months of the current fiscal year, according to Nepal Rastra Bank. This is a 1.7 percent decline over the same time the previous year. Remittance inflows had fallen by 4.9 percent to Rs 540.12 billion in January of the previous month.
Since the first month of the current fiscal year, remittances have been progressively falling. In the next eight months, there are signs that remittances may rise. In April, if remittances
continue to come in this manner, remittances will rise even more.
The number of Nepalis seeking final labor permits (institutional and individual-new and
legalized) for overseas work has climbed dramatically, according to the NRB, reaching 227,900 during the review period. In comparison to the same period the previous year, this figure had dropped by 82.9 percent.
Similarly, the number of Nepalis seeking re-employment for international work has risen by
240.9 percent to 178,262 over the same time period. In comparison to the same period the
previous year, the number had plummeted by 70.2 percent. During the review period, net
transfer declined by 2.0 percent to Rs. 704.33 billion. In the same period the previous year, such transfers had climbed by 7.2 percent.
