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Remittances by Lankan migrant workers up by 75%

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Remittances by Sri Lankan migrant workers have gone up by 74.4 percent, in the first eight months of this year compared to remittances by migrant workers for the same period last year, the Sri Lanka Bureau of Foreign Employment said.

“In the first eight months of 2023, foreign remittances of US$ 3,863 million have been received, showing a remarkable growth in remittances sent to the island by Sri Lankans working abroad,” the SLBFE in a statement said.

In the first eight months of 2022, Sri Lankans abroad have sent remittances amounting to US$ 2,215 million, and accordingly, labour remittance received in 2023 has increased by 74.4 percent compared to the same period of previous year.

In August of this year alone, the amount of remittances sent by workers to the island is US$ 499 million, and in August last year, a remittance amount of US$ 325 million was sent to the island.

Foreign remittances have increased by 53.4 percent this August in comparison to remittances during the same period last year.

Labour and Foreign Employment Minister Manusha Nanayakkara implemented many welfare facilities for the workers undertaking foreign jobs, and as a result, more Sri Lankans abroad have been motivated to send money to the island.

Workers who legally send money to the island through the banking system are given a licence to import an electric vehicle according to the amount of money they send, and tariff concessions are also given for the purchase of goods.

A pension scheme which was a dream of migrant workers for a long time was also started, and accordingly the Manu Saviya Contributory Pension Scheme is being successfully implemented.

Also, the Bureau intervenes and provides pre-emigration loan facilities for those who want to apply for foreign jobs, and plans to implement a housing scheme for Sri Lankans working abroad in the future.

A special portal called Hope Gate has also been started to provide necessary support to workers going abroad for work and to carry out their tasks easily.

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