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- Pakistan recorded highest-ever monthly remittances of $4.1bn in March.
- SBP expects foreign reserves to rise above $14bn by June.
- PM Shehbaz praised overseas Pakistanis for record-setting contributions.
Remittances hit a record $4.1 billion in March, marking the highest ever monthly inflow in Pakistan’s history, said Governor State Bank of Pakistan (SBP) – Jameel Ahmad.
This massive increase in record remittances gave much-needed support to Pakistan’s economy, boosting foreign reserves, liquidity for importers, and helping the government manage its balance of payments smoothly.
Compared to February 2025, when remittances reached $3.12 billion, the March numbers reflect a 37 percent year-on-year increase and a 3.8 percent rise from January.
From July to March in FY25, total remittances hit $28.07 billion, recording a 33 percent rise compared to the same period last fiscal year.
Ahmad shared these figures while speaking at the Pakistan Stock Exchange (PSX), also noting Pakistan’s foreign reserves are expected to cross $14 billion by June 2025.
He said Pakistan’s total foreign debt obligations for FY25 are $26 billion, but $16 billion is likely to be rolled over, easing repayment pressure.
The SBP governor also said the economy was reviving. However, due to a weak agricultural season, GDP growth may remain around three percent this fiscal year.
He noted that the agriculture sector performance is similar to last year, with GDP growth that could have exceeded 4.2 percent, but other economic indicators still show positive trends.
According to AKD Securities’ data on remittance breakdown, inflows in the country’s financials mainly came from Saudi Arabia ($987m), UAE ($842m), UK ($684m), and US ($419m).
Topline Securities attributed the surge to the Ramazan/Eid effect, suggesting seasonal patterns contributed to this record-breaking increase.
The Prime Minister congratulated overseas Pakistanis, calling them the backbone of the economy, and praised their trust in the government’s economic policies.
He promised better services and support for overseas workers, saying their efforts made the nation proud and strengthened Pakistan’s financial position.
