Islamabad, July 7, 2025: Foreign exchange companies have contributed nearly $5 billion to Pakistan’s remittance inflows by the end of the fiscal year 2024-25, according to the Exchange Companies Association of Pakistan (ECAP).
Zafar Paracha, Secretary General of ECAP, underlined the rising role of these firms in supporting the country’s exchange rate steadiness, pointing out that $450 million was sold to banks in June alone.
He showed hope that FY26 might witness record-high remittance inflows, driven by the new incentive scheme. Although still unofficial, the total remittances processed by exchange companies in FY25 are anticipated to touch $5 billion.
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During the initial 11 months of FY25, Pakistan secured $35 billion in remittance inflows. The final number is likely to exceed the adjusted goal of $38 billion, boosted by the inflows from exchange companies.
The addition of exchange companies in the Pakistan Remittance Initiative (PRI) by the State Bank of Pakistan (SBP) has been appreciated by the sector.
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For several years, exchange companies have urged for equal rewards with banks, stressing their crucial part in the remittance channel.
Through the new setup, exchange companies will now get Rs22 per dollar deal, a prominent jump from the earlier Rs2 per transaction.
