KATHMANDU: Remittances witnessed a remarkable upswing, soaring by 30 percent in the first three months of the current fiscal year.

The total remittances reached an impressive Rs 3.65 billion, marking a substantial increase from the previous year’s figure of Rs 2.34 billion.

Comparatively, remittances experienced a growth of 16.8 percent during the corresponding period last year.

In US dollars, remittances exhibited a notable rise of 25.9 percent, amounting to 2.76 billion. This stands in stark contrast to the previous year’s increase of 7.9 percent.

Until the mid of October, the number of Nepalese individuals securing new work permits for foreign employment, both institutional and individual, totaled 1,13,397.

Additionally, 49,297 individuals renewed their work permits during the same period.

In contrast, the figures for the previous year indicated 1,47,932 new work permits and 57,861 renewals during the equivalent timeframe.