Pakistan Received $4.1billion Worth of Remittances in 2024

Pakistan received a record $4.1 billion in workers’ remittances in March 2025, marking the highest monthly inflow in the country’s history, according to State Bank of Pakistan (SBP) Governor Jameel Ahmad. This milestone reflects a 37% year-over-year increase from March 2024 and a 30% rise compared to February 2025, when remittances stood at $3.12 billion.

SBP Governor Jameel Ahmad, speaking at the Pakistan Stock Exchange – PSX to launch Financial Literacy Week, announced that the central bank has raised its FY25 remittance forecast to $38 billion, up from $36 billion. This is higher than the Finance Minister’s earlier projection of $35 billion. Ahmad expressed optimism about Pakistan’s external account, expecting a significant current account surplus—the best in two decades.

He also revised the SBP’s foreign reserves target to $14 billion by June 2025, despite recent debt repayments. Overall forex reserves rose to $15.75 billion. Imports have grown to $5.7 billion per month, indicating economic recovery.

Ahmad projected 3% GDP growth for FY25, which could have reached 4.2% with stronger agricultural output. Inflation, which hit a historic low of 0.7% in March 2025, is expected to rise again from April onward.