ISLAMABAD (Kashmir English): Overseas Pakistanis has sent a record remittance of $38.3 billion to Pakistan during the fiscal year 2024-25, the highest amount sent in a single year in the country’s history.
This was up from $30.3 billion in the previous fiscal year 2023-24, a significant increase of $8 billion, or 26.6 percent, in remittances on a year-on-year basis.
In this historic performance, the highest remittances were sent from Saudi Arabia, which was $9.3 billion.
Remittances of $7.8 billion were received from the United Arab Emirates, $5.9 billion from the United Kingdom, $4.5 billion from European countries, and $3.7 billion from the United States.
According to the report, initiatives such as the Pakistan Remittance Initiative (PRI) by the State Bank of Pakistan have not only made the process of sending remittances through legal channels safer but also easier and faster.
Fee waivers on remittances under the PRI, digital upgrading of the banking system, and awareness campaigns for overseas Pakistanis have reduced informal channels and facilitated sending remittances through banking channels.
According to statistics, in the month of June 2025 alone, Pakistani workers sent remittances worth $3.4 billion, which is 7.9% more than in June last year.
The highest remittances during the month of June were received from Saudi Arabia at $823.2 million,
from the United Arab Emirates at $717.2 million, from the United Kingdom at $537.6 million, and from the United States at $281.2 million.
Economists say that this significant increase in remittances is due to reform measures such as the Pakistan Remittance Initiative, facilitation of legal channels, and improvements in foreign exchange policies, which have played a key role in putting the country on the path of economic stability.
