Daily Times

Pakistan achieved a remarkable milestone in March 2025, receiving a record $4.1 billion in remittances. This inflow represents the highest monthly total ever recorded. State Bank of Pakistan (SBP) Governor Jameel Ahmad confirmed this at an event at the Pakistan Stock Exchange. He stated that this surge provides vital support to the country’s economy and foreign exchange reserves.

This year, remittances saw a 37% increase compared to March 2024, when the figure was $2.95 billion. Month-on-month, March’s remittances rose by nearly 30%, up from $3.12 billion in February. From July 2024 to March 2025, Pakistan received a total of $28 billion in remittances, reflecting a 33.2% increase from the same period last year.

Governor Ahmad highlighted that the rise in remittances comes from better banking channels and seasonal factors like Ramadan giving. He also noted that the government expects to roll over or refinance $16 billion of its foreign debt obligations for FY25. This should ease the net repayment pressure to around $10 billion.

Higher remittances are crucial for supporting households, covering living expenses, education, and healthcare. Moreover, they help stabilize foreign reserves and support the rupee. This record inflow offers some relief amid ongoing economic challenges and inflation pressures in Pakistan.