ISLAMABAD – In a major development, remittances to Pakistan have increased by 29% compared to September 2023. According to recent data, Pakistan received $680 million from Saudi Arabia and $560 million from the United Arab Emirates during the month of September.
For the first quarter of the current fiscal year 2024-25, Overseas Pakistanis sent a total of $8.78 billion, marking a remarkable 39% increase compared to the same period in fiscal year 2024.
The average monthly remittance during these three months stood at $2.92 billion.
Breaking down the figures, Pakistanis residing in Saudi Arabia made major contribution as they sent $2.15 billion over the three-month period.
Meanwhile, all those who are in the UAE sent $1.70 billion to Pakistan.
Besides it, Pakistanis in the UK sent $1.34 billion, while remittances from the European Union amounted to $1.09 billion. From the USA, remittances reached $890 million, and other Gulf countries contributed $860 million.
The total remittances sent by Pakistanis living abroad exceeded the funds received from the International Monetary Fund’s three-year program during the same three-month period.
