KARACHI – Overseas Pakistanis have set a new benchmark by sending a record-breaking $38.3 billion in remittances during the fiscal year 2024-25.
This marks the highest annual remittance inflow in Pakistan’s history.
According to official data, this figure represents a significant 26.6% increase compared to the previous fiscal year (2023-24), when total remittances stood at $30.3 billion.
The $8 billion year-on-year surge underscores growing confidence in Pakistan’s financial systems and improved facilitation for legal money transfers.
The bulk of these remittances originated from Saudi Arabia, contributing $9.3 billion, followed by the United Arab Emirates ($7.8 billion), the United Kingdom ($5.9 billion), European countries ($4.5 billion), and the United States ($3.7 billion).
In June 2025 alone, Pakistani workers abroad sent $3.4 billion — a 7.9% increase compared to June last year.
Saudi Arabia led the monthly inflow with $823.2 million, followed by the UAE ($717.2 million), the UK ($537.6 million), and the US ($281.2 million).
Economists attribute the remarkable increase to initiatives like the Pakistan Remittance Initiative (PRI), launched by the State Bank of Pakistan (SBP).
The PRI introduced reforms aimed at simplifying and digitizing the remittance process. Key measures included fee waivers on remittances, upgrades to the digital banking infrastructure, and awareness campaigns encouraging the use of legal channels.
These efforts significantly reduced reliance on informal transfer methods and made it easier and safer for overseas Pakistanis to send money home through formal banking systems.
Experts believe this surge in legal remittance inflows not only strengthens Pakistan’s foreign exchange reserves but also contributes to greater macroeconomic stability.
