Data from the State Bank of Pakistan shows that during the first two months of the fiscal year 2024–25, remittances to Pakistan increased significantly by 44%. $5.94 billion was brought in, compared to $4.12 billion at the same time previous year.
Saudi Arabia ($713.1 million), the United Arab Emirates ($538.4 million), the United Kingdom ($474.8 million), and the United States ($322.4 million) made significant donations in August 2024.
These nations’ growth rates were noteworthy: in comparison to the prior year, the UAE increased by 84%, Saudi Arabia by 51%, the UK by 44%, and the US by 23.5%.
Experts link this increase to the government’s campaign against illicit money transfer schemes such as dollar and hundi smuggling. This measure has contributed to stabilization.
