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remittances

Aurangzeb sees all-time-high $36b remittances by FY end

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Aurangzeb

ISLAMABAD Minister for Finance and Revenue Senator Muhammad Aurangzeb provided a comprehensive update on the country’s economic progress, highlighting increased remittance inflows, improved confidence among investors and businessmen in government policies, and better outcomes following institutional reforms. “The record-breaking remittance inflow for February 2025 reached an impressive $3.1 billion. We estimate an all-time high remittance … Read more

In 11 months, workers’ remittances increased by 6.3 percent to $28.4 billion

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remittances

The overseas Pakistani workers’ remittances grew by 6.3 percent in 11 months (Jul-May) of current fiscal year to $28.4 billion against inflows of $26.7 billion in same period of previous year. Remittances’ inflows during May 2022 were mainly sourced from Saudi Arabia ($541.9 million), United Arab Emirates ($435m), United Kingdom ($354m) and the United States … Read more

Overseas Pakistanis send $3 billion; highest-ever in a month

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surging dollar is pushing the global economy

KARACHI: The inflows of workers’ remittances crossed $3 billion in April 2022, which is the highest-ever remittances received in a month, the State Bank of Pakistan (SBP) said on Friday. “With $3.1 billion inflows during April 2022, the workers’ remittances crossed $3 billion for the first time ever.” In terms of growth, during April 2022, … Read more

SBP receives record $18 billion remittances in seven months

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SBP

KARACHI: The State Bank of Pakistan (SBP) has received $18 billion as workers’ remittances during the first seven months (July-January) 2021/22, a statement said on Friday. The central bank said that during the first seven months of 2021/22, the remittances have risen to a record $18 billion, 9.1 per cent higher than the same period … Read more

Remittances grow to $12.9 billion in five months

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Remittances

KARACHI: The State Bank of Pakistan (SBP) has said that the inflows of remittances sent by overseas Pakistanis grew 9.7 per cent to $12.9 billion during the first five months (July-November) 2021/22. The SBP said that with $2.4 billion of inflows during November 2021, workers’ remittances continued their strong streak of remaining above $2 billion … Read more

Workers’ remittances rise to $5.37 billion in two months

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SBP

KARACHI: The State Bank of Pakistan (SBP) on Friday said the workers’ remittances have increased to $5.37 billion during the first two months (July–August) of the current fiscal year. The inflows of the remittances posted a growth of 10.4 per cent, compared with $4.86 billion received during July–August of the last fiscal year, the SBP … Read more

Overseas Pakistanis Send $2.71 Billion Of Remittances In July

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Dollar

Immigrant Pakistanis working around the world sent  $2.71 billion home last month. According to the report, the State Bank of Pakistan (SBP) said that this is the second-highest level of remittances in the month of July. Remittances have been more than 2 billion for 14 consecutive months. “In terms of growth, remittances increased by 0.7 … Read more

Rupee losses 84 paisas to hit nine-month low against dollar

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Rupee

KARACHI: The rupee fell 84 paisas to touch a nine-month record low of 162.32 against the dollar on Friday due to the demand pressure for the foreign currency, as the market opened after the Eid holidays. The exchange rate closed at Rs161.48 on July 19, 2021 in the interbank foreign exchange market. The government had … Read more

Pakistan sees highest surge in remittances during Covid-19: WB

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KARACHI: The Covid-19 pandemic badly affected the global economy and household earnings, but it proved a boon for Pakistan, as the country witnessed the highest surge in remittances among 45 developing nations, a World Bank report revealed. Overseas Pakistanis sent 17 per cent more back home, owing to the launch of tax incentives for the … Read more

Rupee gains 38 paisas against dollar

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Rupee

KARACHI: The rupee recovered 38 paisas against the dollar on Wednesday, owing to the receivables of the Eurobond proceeds that impacted the market sentiments, dealers said. The exchange rate ended at Rs159.13 against the dollar from the previous day’s closing of Rs159.51 in the interbank foreign exchange market. The currency dealers said the foreign inflows … Read more

Overseas Pakistanis remit record $29.4 billion

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Overseas Pakistanis remit record $29.4 billion

KARACHI: The inflows of workers’ remittances hit a historic high of $29.4 billion in the fiscal year 2020/21, the central bank reported on Tuesday. “The remittances rose to a historic annual high of $29.4 billion,” the State Bank of Pakistan (SBP) said, adding that this has helped improve the country’s external sector position, despite the … Read more

Rupee hits 5-month low against dollar

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Rupee weakens

KARACHI: The rupee weakened 41 paisas to touch a five-month low of Rs159.33 against the dollar on Thursday, owing to the demand for oil imports and other commodities payments, dealers said. The exchange rate ended at Rs158.92 on Wednesday in the interbank foreign exchange market. The rupee was last seen at the same level on … Read more

Rupee likely to remain stable next week

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Rupee

KARACHI: The rupee is expected to maintain the current levels against the dollar next week, owing to foreign inflows and planned incentives to remittances. However, rising import payments after the ease in restrictions related to the coronavirus would increase the demand for the dollars. The exports of the country reached an all-time high of $25.26 … Read more

Pakistan needs to attain 7% economic growth: Tarin

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Pakistan needs to attain 7% economic growth: Tarin

ISLAMABAD: Pakistan needs to achieve economic growth of up to 7 per cent and for realising this goal, there was a dire need for economic stability, a senior government official said. Addressing virtually on “Pakistan’s Economy – Fragility and Smart Action Strategy” National Workshop Balochistan-7, Federal Finance and Revenue Minister Shaukat Tarin said that the … Read more

Rupee expected to remain range-bound next week

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rupee

KARACHI: The rupee/dollar parity is likely to move range-bound next week, owing to the demand for import and corporate payments, besides inflows of export receipts and workers remittances. The currency experts said that the exchange rate would depend on the demand for import and corporate payments. Usually, by the end of the fiscal year, the … Read more

Rupee continues losing streak against dollar

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rupee

KARACHI: The rupee continued its downward movement for the fifth consecutive day, as it lost 34 paisas against the dollar on Wednesday, dealers said. The local currency declined due to the persistent rise in the demand for the foreign currency for import and corporate payments, they said. [amazonad] The exchange rates ended at Rs158.53 against … Read more

Govt. is targeting 4% economic growth for ongoing fiscal year: Hammad Azhar

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Hammad Azhar

The government is targeting a 4% economic growth for the ongoing fiscal year, announced the Federal Energy Minister Hammad Azhar on Saturday.

While giving an economic outlook at a press conference today in Islamabad, Hammad Azhar said that the government will also expand the “social protection programs” in the country to help the low-income groups.

Azhar said that the government managed to reach this level of economic growth because of the “prudent economic policies” that were followed despite the “negative impact of COVID-19”.

“This will not be temporary growth it will be sustained and further strengthened,” said the federal minister.

The minister said that during the first nine months of the current fiscal year, large-scale manufacturing grew by 9% and Pakistan in March only had made exports worth $3.2 billion.

Azhar said that the foreign exchange reserves of the country had reached $23 billion while remittances also increased by 39% in the current year.

The energy minister said that the cement industry has seen a record production of 17% while better crop prices have benefitted the farmers’ community.

Pakistan’s GDP Growth Is Estimated At 3.94%

Prime Minister Imran Khan on Friday told via the micro-blogging site Twitter that Pakistan’s GDP is estimated at 3.94%.

According to the Prime Minister, the National Accounts Committee has finalized the GDP growth estimate & GDP growth is estimated at 3.94%.

PM Khan said that this reflects the success of our govt’s economic policies while managing COVID 19 pandemic.

In the tweet, Prime Minister said,

“Our V-shaped recovery is balanced between 3 major sectors: agriculture, industry & services.”

[embedpost slug=”pakistan-gdp-growth-rate-projected-at-1-5-for-current-fiscal-year/”]

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Pakistan’s Remittances Hit Record High Of $2.8 Billion In April

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Pakistan's Remittances Hit Record High Of $2.8 Billion In April

Remittances from overseas Pakistanis continue to rise, reaching a record high of 2 2.8 billion in April 2021. According to the State Bank of Pakistan (SBP), remittances in April were 56 per cent higher than a year ago. In the fiscal year 2021, from July to April, total remittances from overseas workers reached an unprecedented … Read more

PM thanks overseas Pakistanis for record-breaking month of remittances

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PM Imran Khan twitter overseas Pakistanis

On Friday, Prime Minister Imran Khan took to micro-blogging site Twitter to thank all the overseas Pakistanis for a “record-breaking month of remittances“. He told that during the month of December 2020, Pakistan received $2.4 billion in remittances. “MashaAllah, 1st time in Pakistan remittances have been above $2 bn for 6 consecutive months,” PM Khan … Read more

Remittances Exceed $2 billion For The Sixth Consecutive Month

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Remittances Exceeds $2 billion For The Sixth Consecutive Month

KARACHI: Remittances in the country for the sixth consecutive month in November stood at more than $2 billion. According to the data released by the State Bank of Pakistan, remittances in November on a monthly basis increased by 2.4% to $2.34 billion as compared to October. However, in the first five months of the current … Read more

Remittances maintain strong momentum for a record 6th consecutive month

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Monetary Policy Committee To Maintain Policy Rate at 7% : SBP

The State Bank of Pakistan on Friday said that Workers’ remittances maintained their strong momentum in the month of November. According to the details, the Central Bank tweeted that: “Workers’ remittances maintained their strong momentum in November, remaining above US$2 billion for a record 6th consecutive month. They rose to US$2.34 billion, up 2.4% over … Read more

‘Remittances recorded A highest ever amount in history of Pakistan’

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Prime Minister

Prime Minister Imran Khan said on Monday that Remittances from overseas Pakistanis recorded highest ever amount in the history of Pakistan. He took to twitter and wrote: More good news for Pak economy. Remittances from overseas Pakistanis reached $2,768 mn in July 2020, highest ever amount in one month in the history of Pakistan. Prime … Read more

Overseas Pakistanis are our assets: Prime Minister

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Prime Minister

Prime Minister Imran Khan has said that Pakistanis who live abroad are our assets. According to details, the Prime Minister chaired a high-level meeting in which it was reviewed to give incentives to Pakistanis abroad in terms of remittances. The meeting reviewed the situation of remittances sent to the country by overseas Pakistanis while considering … Read more

PTI Govt to announce special concessions for overseas: Imran Khan

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Imran Khan

Islamabad: Prime Minister Imran Khan said, the government is working on policy to announce special incentives for overseas Pakistanis, who send remittances through legal channels. He was addressing the launching ceremony of Delivery of Home Remittances Scheme by Overseas Pakistanis through Pakistan Post. According to the details, the Prime Minister said now families of overseas … Read more

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