Islamabad 27 July: PM revives remittance incentives as foreign exchange inflows by overseas Pakistanis hit record $38.3 billion. Prime Minister Shehbaz Sharif has ordered the Ministry of Finance to release funds under the Workers’ Remittances Incentive Scheme immediately to improve the flow.
According to World Bank estimates, Pakistan is the fifth-largest recipient of remittances globally, with inflows making up nearly 9% of its GDP.
The Prime Minister’s directive comes after the State Bank of Pakistan (SBP)’s Deputy Governor, Dr. Inayat Hussain, cautioned that discontinuing incentives for remittance inflows might discourage expatriates from using regulated financial systems.
“Our overseas Pakistanis are a national asset,” said PM Sharif, according to a statement from the Prime Minister’s Office (PMO). “Their remittances are essential for national development. These funds not only ease pressure on our import bill but also strengthen our foreign exchange reserves.”
READ MORE: Good News for Overseas Pakistanis: Remittance Incentives Extended
He emphasized that the government is committed to improving the remittance process by making it more transparent, efficient, and user-friendly.
Recent figures from the SBP reveal that Pakistan received a record $38.3 billion in home remittances during FY 2024–25 — a sharp 27% jump from $30.25 billion the previous fiscal year. These inflows remain a lifeline for the country’s external account and serve as a critical source of income for millions of households.
