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ISLAMABAD: Overseas Pakistanis sent home $3.54 billion in remittances during April 2026, up 11.4% from the same month last year, according to data released by the State Bank of Pakistan on Monday.&nbsp;However,&nbsp;<a href="https://www.pakistantv.com/article/pakistan-remittances-rise-to-129-billion-in-early-fy26-central-bank" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">remittance inflows</a>&nbsp;declined by 7.6% on a month-on-month basis from March 2026 levels.&nbsp;Cumulatively, workers&rsquo; remittances rose by 8.5% in the first 10 months of FY2025-26, reaching $33.86 billion in July-April, compared with $31.21 billion in the corresponding period of the previous fiscal year.&nbsp;Saudi Arabia remained the largest source of remittances for Pakistan in April, with overseas Pakistanis sending $842 million, up 16% year-on-year from $725 million recorded in April 2025.&nbsp;Remittances from the United Arab Emirates also posted strong annual growth, increasing 13% to $735 million from $653 million in the same month last year.&nbsp;Meanwhile, inflows from the United Kingdom stood at $564 million in April, while Pakistani workers in the United States remitted $318 million during the month.&nbsp;Remittances from European Union countries reached $432 million, reflecting steady inflows from the region.

A dealer counts US dollars at a money exchange market in Karachi on March 2, 2023. (AFP/File)

Economy

Saudi Arabia remains the largest source of remittances for Pakistan in April, with overseas Pakistanis sending $842 million, up 16% year-on-year from $725 million recorded in April 2025.

Pakistan remittances rise 11.4% to $3.54B in April

ISLAMABAD: Pakistan received $3.1 billion in remittances from overseas workers in August 2025, according to data released by the State Bank of Pakistan (SBP). The figure reflects a 6.6% increase compared to the same month last year, when remittances stood at $2.9 billion. Remittance inflows in the first two months of FY26 rose by 7% despite incentives cuts. On a monthly basis, however, the inflows were 2% lower than the $3.2 billion recorded in July 2025. Breakdown of remittance inflowsAccording to the breakdown, Saudi Arabia remained the top source of remittances with $737 million sent in August. This marked an 11% decrease from July but a 3% increase from August 2024. Inflows from the United Arab Emirates rose 19% year-on-year to $643 million. Remittances from the United Kingdom stood at $463 million, showing a 3% increase month-on-month but a 2% decline compared to the previous year. The United States contributed $267 million, reflecting a 17% year-on-year decrease.

Pakistan’s August remittances hit $3.1B, with notable inflows from Saudi Arabia, UAE, UK, and USA

Pakistan’s remittances rise 6.6% to $3.1B in August

ISLAMABAD: Pakistan&rsquo;s remittance inflows surged by 27% to a historic $38.3 billion during the fiscal year 2024-25. The cost to handle these inflows through formal banking channels soared even faster, *Business Recorder* reported, citing official data.&nbsp;The country has witnessed a dramatic rise in remittances, which grew five times to $38.3 billion in 2025, up from $7.8 billion in 2009. Over the last 10 years, remittances have grown by 92%. In July 2025 alone, workers&rsquo; remittances rose 7.4% year-on-year, highlighting the continued reliance on overseas Pakistanis for foreign exchange earnings, which now exceed the country&rsquo;s export receipts.&nbsp;In FY24-25, remittances from Saudi Arabia, the UAE, the UK, and EU countries contributed significantly to the rise, positioning Pakistan as the world&rsquo;s fifth-largest recipient and the second-largest in South Asia.&nbsp;One of the primary reasons for the significant increase, according to the&nbsp;<a href="https://www.pakistantv.com/article/pakistans-central-bank-cuts-policy-rate-by-50bps-to-105-in-surprise-move" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">State Bank of Pakistan (SBP)</a>, is the introduction of attractive incentive payouts to banks and money transfer operators, aimed at reversing the previous decline in remittance volumes.&nbsp;Additional contributing factors include the reinstatement of the&nbsp;<a href="https://www.pakistantv.com/article/saudi-arabia-remains-top-destination-for-pakistani-workers-in-2025" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Saudi Arabia</a>&nbsp;remittance corridor and a significant 60% depreciation of the rupee against the Saudi riyal &mdash; the currency used to calculate government rebates.&nbsp;Even though remittances are up, the cost of handling this money through the government&rsquo;s system, Pakistan Remittance Initiative (PRI), has also gone up a lot, the SBP data shows. In 2025, the cost reached Rs 124.14 billion, compared to Rs 72.95 billion in 2024, marking a sharp increase of 70%.&nbsp;The sharp increase in handling costs has raised concerns within government circles, prompting the Economic Coordination Committee (ECC) to rationalize incentives offered under the Transfer to Cash Incentive Scheme (TTCIS).&nbsp;To manage the fiscal burden, the ECC has approved changes to TTCIS, including a flat incentive rate of 20 Saudi riyals per transaction &mdash; down from a variable 20&ndash;30 riyals &mdash; and a higher minimum transaction size of USD 200, up from USD 100.&nbsp;Since its inception in 2009, the PRI has expanded its network to over 50 domestic financial institutions and around 400 international partners, facilitating a nearly fivefold increase in remittance inflows over the period.

Sharp rise in cost forces the Economic Coordination Committee to rationalize cash incentives offered to boost remittances

Articles tagged with "Pakistan remittance inflows"

Pakistan remittances rise 11.4% to $3.54B in April

Pakistan’s remittances rise 6.6% to $3.1B in August

Pakistan’s inflow handling cost surges 70% amid record remittances