Overseas Pakistanis have sent $26.5 billion to the country in the first seven months of the current financial year. The State Bank of Pakistan (SBP) reported the figures, highlighting a steady increase in remittances.
In February alone, Pakistan received $3.3 billion in remittances, showing a 5% rise compared to the same month last year. This indicates continued support from overseas Pakistanis for their families and the national economy.
Among all countries, Pakistanis living in the United Arab Emirates sent the highest amount in February, totaling $700 million. Saudi Arabia was the second-largest contributor, with $685.5 million sent home during the same period.
Remittances from Pakistanis residing in the United Kingdom reached $530 million, while those living in the United States contributed $320 million. These numbers reflect the strong financial ties of overseas Pakistanis with their home country.
The SBP stated that overall remittances for the first seven months showed a 10.5% increase year-on-year. Officials said this growth helps strengthen Pakistan’s foreign exchange reserves and supports domestic economic stability.
Overseas Pakistanis play a vital role in sustaining the national economy. Their contributions provide households with financial stability and help manage the country’s trade and balance of payments. Experts say that consistent remittances from the diaspora are crucial for economic planning and development.
The central bank emphasized that the government continues to encourage overseas Pakistanis to use formal channels for sending money. This ensures transparency, efficiency, and timely delivery of funds to beneficiaries across Pakistan.
Analysts noted that remittances also help reduce pressure on the local currency and provide a steady inflow of foreign exchange. With increasing economic challenges globally, the role of overseas Pakistanis has become even more significant for the country.
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Overall, the continued flow of remittances demonstrates the strong commitment of overseas Pakistanis to support their families and contribute to Pakistan’s economic growth. The trend is expected to remain stable in the coming months.
