Islamabad, Oct 9: Workers’ remittances record US$2.8bn inflow during September
Money transfers from Pakistanis living abroad amounted to $2.8 billion in September 2024.
In a statement released, the central bank noted that remittances saw a 29% increase in September 2024 compared to the same period last year.
“Remittances in July 2024 mainly came from Saudi Arabia ($681.3 million), the United Arab Emirates ($560.3 million), the United Kingdom ($423.6 million), and the United States ($274.9 million),” the SBP report stated.
Previously, Prime Minister Shehbaz Sharif announced a bold initiative to raise remittances from overseas Pakistanis to $60 billion by 2034.
As per sources within the Finance Ministry, current foreign remittances are at $32 billion, with a government goal to grow this figure by 10% each year.
To reach this objective, 26 Community Welfare Attachés will be deployed in Gulf nations and Europe next month.
These attachés will assist Pakistanis abroad in investing in technology zones and offer them blue passports, the sources said.
The government is also working to increase remittances from countries such as Saudi Arabia, Dubai, Qatar, England, and the U.S. Technical programs and vocational training will be introduced to improve skilled labor.
Furthermore, 50 new vocational centers are being set up nationwide to provide training. Community Welfare Attachés will seek new job prospects, business ventures, and markets for Pakistanis abroad.
