Overseas Pakistanis have sent a record-breaking $38.3 billion in remittances during the financial year 2024-25 marking a significant 27 percent increase compared to the previous year.
According to official data released by the State Bank of Pakistan, the surge in remittances reflects growing confidence of expatriate workers in the country’s financial channels, aided by stable exchange rates and government incentives for using formal banking systems.
“Remittance inflows in FY2024-25 stood at $38.3 billion, compared to $30.1 billion received during FY2023-24,” the SBP said in a statement.
The government has expressed hope that the momentum will continue in the current fiscal year, as authorities work with international partners to further digitise and simplify remittance systems.