In a remarkable display of support, Pakistani expatriates living overseas have set a new record by sending remittances worth $3 billion in January 2025. According to a recent report by the State Bank of Pakistan, during January 2025, worker remittances saw a 25% increase compared to January 2024. The report also highlighted that overall remittances received during the first seven months of the current fiscal year amounted to $20.8 billion, marking a significant 31.7% increase compared to the same period in the fiscal year 2024. Pakistan had received remittances worth $15.8 billion in the initial seven months of the fiscal year 2024.
As per the State Bank’s data, in January 2025, Pakistani expatriates residing in Saudi Arabia sent $7.283 billion, $6.217 billion from the United Arab Emirates, $4.436 billion from the United Kingdom, and $2.985 billion from the United States. These figures serve as a positive sign for the Pakistani economy, especially at a time when there is an upward trend in remittances from Pakistanis abroad.
On the other hand, former Prime Minister Imran Khan had appealed to overseas Pakistanis in December 2024 not to send protest remittances. Despite this appeal, there was no decrease in remittance inflows in January 2025. This development has raised questions about the effectiveness of Imran Khan’s appeal. Prime Minister Shehbaz Sharif has stated that with the stabilization of the economy, the paths to progress have opened up, and he congratulated the nation on the record increase in remittances. This situation serves as a response to those who were disillusioned with the economy. The increase in remittances in January 2025 compared to January 2024 is a significant step towards the revival of the Pakistani economy, with hopes that this trend will continue in the future.
