Pakistan Applauds Record $38.3bn Diaspora Remittances in FY25

Prime Minister Shehbaz Sharif,

The Government of Pakistan has lauded its global diaspora after inflows from overseas citizens climbed to an unprecedented $38.3 billion in the 2024/25 fiscal year, according to data from the State Bank of Pakistan (SBP).

Prime Minister Shehbaz Sharif, speaking at a reception for expatriates in London on Monday, described the surge as proof of the enduring bond between Pakistanis abroad and their home country.

“Our diaspora has shown once again that they are the backbone of our economy,” he said, pledging to expand incentives for sending funds through regulated channels and to create investment platforms for overseas communities.

The SBP reported that remittances from key corridors including Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States grew sharply year-on-year, easing pressure on the country’s balance of payments and foreign reserves.

Finance experts said the record inflow strengthens Pakistan’s external position, supports the rupee, and gives policymakers space to continue economic reforms aimed at sustainable growth.

Deputy Prime Minister Ishaq Dar called the diaspora “a vital bridge between Pakistan and the rest of the world,” noting that their financial contributions also help fund education, health, and small businesses across the country.

Remittances, mainly from Pakistanis working and living overseas, remain one of the country’s largest sources of foreign exchange, now accounting for nearly nine per cent of GDP.