KATHMANDU, Aug 18: Nepal has received over Rs 1.4 trillion in remittances in the last fiscal year 2023/24. According to Nepal Rastra Bank (NRB), Rs 1.445 trillion was received in remittances in the last fiscal year.

Compared to the previous year, the remittance inflow has increased by 16.5 percent. However, remittances had increased by 23.2 percent in the previous fiscal year.

In the last one year, the number of Nepalis who obtained the final work permit (institutional and individual-new) for foreign employment stood at 460,103. Additionally, the number of those who obtained renewed labor approvals stood at 281,199.

In a year, around 741,000 Nepalis are engaged in foreign employment, including both new and renewed labor approvals. In the same period last year, this number was 497,704 for new approvals and 277,272 for renewed labor permits.

In the last fiscal year, the net transfer increased by 14.7 percent and reached Rs 1.571 trillion. According to the NRB, such transfers had increased by 22.5 percent in the previous fiscal year.

Published on: 20 August 2024 | My Republica