LAHORE MIRROR — Pakistan’s workers’ remittances reached 3.9 billion dollars during the last month, reflecting continued growth in foreign exchange inflows from overseas Pakistanis.
This was shared in a post on the social media platform X by Finance Minister’s Advisor Khurram Schehzad.
He said the remittances surged by 13.8 per cent year-on-year they also registered an increase of 8.5 per cent compared to September this year.
During the first four months of the current fiscal year, cumulative workers’ remittances reached 14.8 billion dollars, showing a growth of 14 per cent compared to the corresponding period of the previous fiscal year.
Khurram Schehzad said the country received approximately 1.8 billion dollars more in remittances during the period compared to the same period last year.
Saudi Arabia remained the largest source of remittances in October, contributing 982 million dollars, up 25 per cent year-on-year.
The United Arab Emirates followed with 816 million dollars, registering an increase of 16 per cent, while remittances from the United Kingdom rose 15 per cent to 592 million dollars.
Pakistan also received 461 million dollars from European Union countries, showing a growth of 12 per cent, while other Gulf Cooperation Council countries contributed 370 million dollars, up 13 per cent.
Khurram Schehzad said sustained growth in remittances is strengthening the country’s foreign exchange reserves, supporting households and contributing to external account stability.
He described overseas Pakistanis as a key pillar of the country’s economy.
