Islamabad:Pakistan's workers' remittances reached $3.9 billion during October, reflecting continued growth in foreign exchange inflows from overseas Pakistanis.
According to Radio Pakistan, this information was shared in a post on the social media platform X by Finance Minister's Advisor Khurram Schehzad. He noted that the remittances surged by 13.8 percent year-on-year and also registered an increase of 8.5 percent compared to September of this year.
During the first four months of the current fiscal year, cumulative workers' remittances reached $14.8 billion, showing a growth of 14 percent compared to the corresponding period of the previous fiscal year. Khurram Schehzad stated that the country received approximately $1.8 billion more in remittances during this period compared to the same period last year.
Saudi Arabia remained the largest source of remittances in October, contributing $982 million, which is a 25 percent increase year-on-year. The United Arab Emirates followed with $816 million, registering a 16 percent increase, while remittances from the United Kingdom rose 15 percent to $592 million.
Additionally, Pakistan received $461 million from European Union countries, showing a growth of 12 percent, and other Gulf Cooperation Council countries contributed $370 million, up 13 percent. Khurram Schehzad said the 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.
