Karachi, March 11, 2025: Pakistan received a record $3.1 billion in remittances in February 2025, reflecting an impressive 55% year-on-year growth compared to the same month last year.
This significant surge underscores the growing confidence of overseas Pakistanis in the country’s financial system and the effectiveness of government policies promoting formal remittance channels.
Key Sources of Remittances in February 2025 included Saudi Arabia: $744 million (highest inflows), United Arab Emirates (UAE): $652 million, United Kingdom (UK): $501 million, European Union (EU): $340 million and United States (US): $309 million.
From July 2024 to February 2025, total remittances reached $24 billion, marking a 32% increase compared to the previous year.
Key drivers behind the surge include government initiatives such as the Roshan Digital Account and favorable exchange rate policies have encouraged the use of formal banking channels, crackdown on informal money transfers (hawala/hundi) has diverted inflows towards official banking systems and a weaker local currency has made sending remittances more attractive for overseas Pakistanis.
The remittances boom is expected to strengthen foreign exchange reserves, ease external debt pressures and enhance overall economic stability.
Experts stress that sustaining this momentum will require continued engagement with overseas Pakistanis and further policy support to facilitate remittance flows.