ISLAMABAD – More than 700,000 citizens of Pakistan went to foreign countries in search of better employment in outgoing year of 2024.
Reports said 727,381 Pakistanis went abroad in 2024, compared to 862,625 in 2023. This represents a 15% decrease in the migration of Pakistanis abroad last year.
A section of experts sees the migration of huge number Pakistanis every year harmful for Pakistan while the other side highlights its benefits.
Some experts believe that such high level of brain drain creates hurdles in development of Pakistan. They stressed on a need to tap their potential by providing them opportunities as they can put the country on road to development.
On the other hand, remittances sent by overseas Pakistanis play a significant role in the recovery of Pakistan’s economy. This section also believes that these individuals are helping to transfer new skills and modern technology to Pakistan by refining their own skills abroad.
An expert said remittances have become the backbone of Pakistan’s economy, assisting the country in paying its import bills.
Pakistan Records Significant Remittances
Pakistan recorded workers’ remittances inflow of $ 3.1 billion during December 2024.
According to data released by the State Bank of Pakistan (SBP), remittances increased by 29.3 per cent year over year and 5.6 per cent month over month.
Cumulatively, with an inflow of $17.8 billion, workers’ remittances increased by 32.8 per cent during H1FY25 compared to $13.4 billion received during H1FY24.
Remittance inflows during December 2024 were mainly sourced from Saudi Arabia ($770.6 million), the United Arab Emirates ($631.5 million), the United Kingdom ($456.9 million), and the United States of America ($284.3 million).
Pakistan records remittances inflow of $3.1 billion in December 2024
