Rise in Remittances a Positive Sign for Pakistan’s Economy, KATI

Karachi: President of the Korangi Association of Trade and Industry (KATI), Ikram Rajput, has termed the increase in remittances sent by overseas Pakistanis during October as a highly encouraging development for Pakistan’s economy.
According to the latest figures, remittances grew by 11.9% in October, reaching $3.4 billion. Rajput said this growth reflects the confidence and commitment of overseas Pakistanis toward their homeland and shows their crucial role in supporting Pakistan’s economic stability.
He stated that while the rise in remittances is a welcome sign, there is also an urgent need for comprehensive measures to attract investment in the industrial sector, which can further strengthen the economy and create employment opportunities.
Citing the State Bank of Pakistan’s report, Rajput highlighted that the highest inflows of remittances were received from Saudi Arabia ($820.9 million), followed by the United Arab Emirates ($697.7 million), the United Kingdom ($487.7 million), and the United States ($290 million). He noted that these figures once again underline the strong connection overseas Pakistanis maintain with their country of origin.
President KATI further shared that during the first four months of the fiscal year 2025–26 (July to October), Pakistan received $12.96 billion in total remittances, an increase of 9.3% compared with the same period last year.
Rajput emphasized that overseas Pakistanis have become one of the most valuable assets for the nation, as they consistently send more money home than the country earns from its total exports. He said their contribution not only helps maintain economic stability but also plays a significant role in reducing the trade deficit.
Calling on the Prime Minister and Finance Minister, Ikram Rajput urged the government to introduce incentive packages and special facilities for overseas Pakistanis to encourage them to remit more funds through official channels. “If the government offers attractive schemes, it can further boost remittance inflows, helping Pakistan strengthen its foreign reserves and achieve greater economic stability,” he said.
He expressed deep gratitude to Pakistanis living abroad for their continued support and dedication, noting that their hard work, love for the homeland, and sense of responsibility have been vital in sustaining the country’s economy. “Their financial contributions are a reflection of their patriotism and commitment to Pakistan’s prosperity,” Rajput added.
President KATI said remittances have long served as a lifeline for Pakistan’s fragile economy, especially in times when the country faces challenges such as high inflation and low foreign exchange reserves.