Remittances from overseas Pakistanis soar to $3.4 billion in October

Pakistan received $3.4 billion in remittances from overseas workers in October 2025, marking a nearly 12 percent increase compared to the same month last year, the State Bank of Pakistan (SBP) reported on Friday.

Monthly inflows also rose by more than 7 percent from September, when remittances stood at $3.2 billion.During the first four months of the fiscal year, remittances reached $12.9 billion, up from $11.9 billion in the same period last year, reflecting a 9.3 percent growth.

Analysts say these funds continue to play a crucial role in supporting Pakistan’s external account, stimulating economic activity, and supplementing household incomes, particularly for families dependent on money sent from abroad.

Prime Minister Shehbaz Sharif expressed appreciation for the contribution of overseas Pakistanis. “The gradual rise in remittances shows the confidence of our expatriates in government policies,” he said, adding that they are among the country’s most valuable assets.

The SBP highlighted that the Pakistan Remittance Initiative, launched in 2009, has expanded formal channels for sending home funds. The number of financial institutions on the PRI network has grown from 25 in 2009 to more than 50 in 2024, including conventional banks, Islamic banks, microfinance banks, and exchange companies. International entities participating in the network have risen from 45 to around 400.

Saudi Arabia remained the largest source of remittances, with $821 million sent in October, up 7 percent from the previous year. Inflows from the UAE reached $698 million, while the UK contributed $488 million. The US sent $290 million, slightly down year-on-year but up from September, and European Union countries recorded a sharp 27 percent increase at $457 million.

Officials say continued government incentives and formal channels are key to sustaining remittance growth and supporting Pakistan’s economic stability.