Pakistan remittances surge by 29pc compared to Sept 2023

Islamabad: Pakistan's remittances increased by 29 percent compared to September 2023.

$680 million was sent from Saudi Arabia in September while $560 million was sent from United Arab Emirates (UAE) to Pakistan in September.

Overseas Pakistanis remitted 8.78 billion dollars in the first quarter of this fiscal year. 39 percent more dollars were sent in the first quarter of this fiscal year than in the first quarter of fiscal year 24. The monthly average of worker remittances in the three months was $2.92 billion.

Pakistanis residing in Saudi Arabia sent 2.15 billion dollars in three months while Pakistanis residing in UAE sent 1.70 billion dollars in three months.

Pakistanis residing in the UK sent 1.34 billion dollars in three months while Pakistanis residing in the European Union sent 1.09 billion dollars in three months.

US$890 million was sent to Pakistan in three months while $860 million was sent from other Gulf countries.

Overseas Pakistanis sent more dollars to Pakistan than the IMF's three-year program in three months.