Pakistan’s current account recorded a marginal deficit of $139 million in FY26, reversing a surplus of $1.84 billion in the previous fiscal year, according to data released by the State Bank of Pakistan (SBP) on Friday. Despite record workers’ remittances, Pakistan’s external account was pushed into negative due to high imports, while exports remained largely […]
remittances
PM directs digitisation of remittances
Prime Minister Shehbaz Sharif on Tuesday directed that remittances from abroad be fully digitised as the government aims to achieve a cashless and digital economy. The premier issued the directives during a meeting he chaired in Islamabad on promoting a cashless economy and digital payments. “The prime minister directed that awareness campaigns to encourage merchants […]
Government targets $42.4bn in remittance
The government has set an ambitious remittance target of $42.4 billion for fiscal year 2026-27, banking on strong inflows from overseas Pakistanis to support the economy and help manage a widening current account deficit. According to budget projections, the government expects the current account deficit (CAD) to rise to $3.6 billion in FY27, equivalent to […]
Middle East conflict pressures India’s job market
The ongoing conflict in the Middle East is placing increasing pressure on India’s labour market, disrupting overseas employment opportunities and weakening demand for the country’s manufactured exports. Read More: Iran conflict prompts India-Russia LNG talks For decades, millions of Indian workers have relied on jobs in Gulf countries, while industries such as leather, garments and glass manufacturing benefited […]
remittances up by 8.5% to $33.9bn in Jul-Apr FY26
Saudi Arabia remained the largest source of overseas remittances to Pakistan in April, with workers in the Kingdom sending $841.7 million to the South Asian country, according to State Bank of Pakistan data released on Monday. Remittances are a critical source of foreign exchange for Pakistan’s fragile economy, helping finance imports, stabilize the currency and […]
Overseas Pakistanis sent $3.53 billion in remittances during April 2026
Overseas Pakistanis sent $3.53 billion in remittances during April 2026, reflecting an 11.4 per cent increase compared to the same month last year, according to data released by the State Bank of Pakistan (SBP) on Monday. Despite the year-on-year growth, inflows recorded a month-on-month decline of 7.6 per cent from March 2026, when remittances stood […]
Pakistan’s economy improving, GDP seen near 4pc: finance minister
Pakistan’s Finance Minister Muhammad Aurangzeb has said the country’s economy is showing signs of recovery, expressing optimism that gross domestic product (GDP) growth could reach around 4 per cent in the current fiscal year. Read More: IMF lowers Pakistan GDP growth forecast to 3.2% Speaking at the EU-Pakistan Business Forum in Islamabad, the minister highlighted improving macroeconomic […]
Pakistan’s foreign exchange reserves rise slightly over the week
Pakistan’s foreign exchange reserves recorded a modest increase over the past week, according to the State Bank of Pakistan, reflecting gradual stability in the country’s external financial position. Read More: Pakistan’s liquid foreign reserves rise to $20.63 billion Official data showed that the central bank’s reserves rose by $1.8 million during the week, bringing total holdings to $15.0976 […]
The Bank of Punjab signs strategic MoU with stacks to advance digital remittances and financial innovation
The Bank of Punjab has entered into a strategic Memorandum of Understanding (MoU) with Stacks, marking an important step toward transforming Pakistan’s remittance landscape and strengthening the country’s digital financial ecosystem. Read More: BOP, AkzoNobel join hands to make Lahore a canvas of culture The MoU was signed by Mr. Muneeb Ali, Co founder of […]
Pakistani workers killed in Gulf amid Middle East conflict
JAMSHORO, Pakistan — Families in Pakistan are mourning after Pakistani workers were killed in the Gulf amid retaliatory strikes by Iran following US-Israeli attacks, highlighting the human cost of the ongoing Middle East conflict. Read More: Overseas Pakistanis drive employment and economic growth Muzaffar Ali, a 27-year-old from Jamshoro, Sindh, was one of two Pakistanis killed in […]