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The country received record-high remittances of $2.8 billion in the month of March, 28.3 per cent higher over last month and 3.2pc more than the same month last year, the State Bank of Pakistan (SBP) said on Thursday.
"Workers’ remittances rose to their highest level in history at $2.8 billion in March 22. Cumulatively, remittances have risen to $23 billion during the first 9 months of FY22," the central bank said.
"Cumulatively at $ 23bn, remittances grew by 7.1pc during first three quarters of FY22 compared with last year."
The SBP data shows that remittances from the entire Arab region have recorded significant growth.
"Remittances inflows during March 2022 were mainly sourced from Saudi Arabia ($678mn), United Arab Emirates ($515mn), United Kingdom ($401mn) and the United States of America ($300mn)," the SBP added.
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Comments (72) Closed
Apr 14, 2022 03:03pm
PTI left the economy in good shape after hard work of 3 and half years. Foreign exchange reserves are stable, Exports are increasing, Remittances are increasing. So this government will eat fruit
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Apr 14, 2022 03:10pm
All due to Pakistani's trust in Imran Khan. I hope it does not happen. I am afraid it will start to go down until Imran Khan is again the PM.
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Apr 14, 2022 03:11pm
Due to Ramadan. Now they won’t send!
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Apr 14, 2022 03:11pm
Overseas Pakistanis should boycott sending money to Pakistanis until they are given a vote.
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Apr 14, 2022 03:13pm
From April onward absolutely no remittances from many like me for IMPORTED GOVERNMENT!
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Apr 14, 2022 03:13pm
Hello IKN , your myth is busted - many more to come
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Apr 14, 2022 03:15pm
No surprise. Its the annual ‘Ramadan’ zakat surge.
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Apr 14, 2022 03:15pm
This shows the confidence people had in PTI government, lets see how people respond now with corrupt regime in place.
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Apr 14, 2022 03:15pm
Rest assured. The record will be lowest in April as overseas Pakistanis do not trust the current government.
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Apr 14, 2022 03:24pm
The advent of the month of Ramzan always bring in more foreign exchange to the country.
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Apr 14, 2022 03:28pm
I will not be sending my hard earned money to Pakistan anymore.
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Apr 14, 2022 03:32pm
Good clarifications, putting rumours emanating from Disinformation Network to rest!
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Apr 14, 2022 03:35pm
It is all because if Imran khan good polices.
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Apr 14, 2022 03:36pm
Will be interesting to see if this trend continues with the new government.
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Apr 14, 2022 03:37pm
So, what does it say???
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Apr 14, 2022 03:41pm
@Vasa, It shows people had confidence in previous government.
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Apr 14, 2022 03:43pm
Be ready for steady decline.
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Apr 14, 2022 03:43pm
@Vasa,Eid is upon us .April will hopefully show further increase .
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Apr 14, 2022 03:48pm
People knew pti was going to go.Good signs started to appear with that news.
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Apr 14, 2022 03:49pm
Coz dollar had reached 190 mad people were sending remittances to take advantage. Nothing more nothing less.
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Apr 14, 2022 03:53pm
Yes, March when Imran khan was still in charge. I will be surprised if there isn't a massive drop in remittances in May.
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Apr 14, 2022 04:04pm
Expect it to go to all time low with looters in charge
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Apr 14, 2022 04:05pm
Congratulations to Pakistan and the previous government of Imran Khan for new all time high record.
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Apr 14, 2022 04:08pm
@bhaRAT©, This is in March not in April, lets see the figures at end of April
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Apr 14, 2022 04:08pm
Anti money laundering efforts of the previous govt. worked….
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Apr 14, 2022 04:17pm
Give this credit to N league too. Might end up in their pockets.
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Apr 14, 2022 04:19pm
this is because of Ramadan not because of the new set up
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Apr 14, 2022 04:32pm
Because of Imran’s image among overseas Pakistanis
Let’s see if the trend continues!
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Apr 14, 2022 04:39pm
Shareef's moving their money back to Pakistan?
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Apr 14, 2022 04:39pm
The momentum generated from the past few years, continues to deliver.
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Apr 14, 2022 04:42pm
Thank you Imran Khan.
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Apr 14, 2022 04:43pm
Thank you Imran Khan.
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Apr 14, 2022 04:51pm
have at it..its one way of running a country i guess.
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Apr 14, 2022 04:57pm
@Ezaz, yes lets see how many people send money under the new corrupt regime.
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Apr 14, 2022 05:02pm
More money will be looted by current looters.
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Apr 14, 2022 05:08pm
After IK it will be a different story!
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Apr 14, 2022 05:14pm
Overseas Pakistanis play a vital role otherwise the country will be bankrupt.
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Apr 14, 2022 05:15pm
As people predicted the honorable Sharif to be PM and Maulana Fazlur as education minister
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Apr 14, 2022 05:15pm
Maulana Fazlur as petrol / trade minister = rock bottom diesel prices. The expat pakistanis know this
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Apr 14, 2022 05:21pm
Thanks for Khan and not the imported government
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Apr 14, 2022 05:28pm
Will see how much gets remitted to Purana Pakistan in April and beyond.
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Apr 14, 2022 05:34pm
@Ezaz,
Rupee was floated (devalued ) at the insistence of IMF and forced by IMF which encouraged foreign remittances and enormously increased exports. Kudos to IMF..
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Apr 14, 2022 05:36pm
Kudos to IMF who forced SBP to float and devalue the rupee which resulted in increased foreign remittances and exports.
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Apr 14, 2022 05:36pm
Dear Dawn News, i respect your thoughts and views but please do print my comment, they reflect the sentiments of several millions overseas Pakistanis.
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Apr 14, 2022 05:43pm
Well, you can say bye bye to the remittances now.
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Apr 14, 2022 05:48pm
You sold Pakistan and now trying to justify it somehow. Nation is on sale, China and US are welcome.
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Apr 14, 2022 05:53pm
it includes the money that came from foreign intervention to buy PTİ MNAs .
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Apr 14, 2022 05:54pm
hence the proof of foreign hand in buying MNAs and MPs.
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Apr 14, 2022 06:01pm
"Workers’ remittances rose to their highest level in history at $2.8 billion in March
Expect this to drop drastically, now that PMIK has gone.
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Apr 14, 2022 06:02pm
@Vasa, So, what does it say???
It says enjoy last benefit of PMIK because from here onwards it will go south until PMIK is back.
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Apr 14, 2022 06:02pm
Seems like we are good at People Export--- why not just focus on that going forward?
Forget about Mangoes and textiles etc.
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Apr 14, 2022 06:02pm
The weak Pakistan currency attracted more foreign remittance. This money will go to real estate.
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Apr 14, 2022 06:11pm
No Imran, No Remittances
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Apr 14, 2022 06:15pm
Whatever is the reason of increment; thank you overseas Pakistanis.
Without any doubt we will default without your remittances.
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Apr 14, 2022 06:20pm
Many more Pakistanis are getting employed in GCC at low salaries. It's not surprising that remittances are increasing. They are sending money to feed their families.
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Apr 14, 2022 06:34pm
Is it bcos of the new government..or cos of Ramadan ..
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Apr 14, 2022 07:01pm
Nothing from China??? Not fair, they are best all weather friends.
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Apr 14, 2022 07:28pm
Hats off Imran Khan and his Financial Team.!
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Apr 14, 2022 08:16pm
why not. Afterall, $ is alltime high and people outside are lending hand to save themselves and their near and dear ones from debt.
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Apr 14, 2022 08:24pm
Declining currency benefit
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Apr 14, 2022 08:35pm
High remittance because of inflation worldwide and increase in pay-roll.
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Apr 14, 2022 08:42pm
No more remittances for a corrupt country run and ruled by Sicilian mafia. Wait and see data for April onwards.
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Apr 14, 2022 08:48pm
Kudos to IKs Govt
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Apr 14, 2022 08:57pm
@SHAHID SATTAR , No. Back you claim with historic figure. We send and we know why we send. It is all time high, not this year high
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Apr 14, 2022 09:02pm
Pakistan is the only country that feels proud about remittances. Amazing.
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Apr 14, 2022 10:27pm
Then why begging from IMF?
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Apr 15, 2022 05:07am
@Mark, You tell it to poor persons who are unable to survive with this kind of inflation.
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Apr 15, 2022 05:09am
Nations who depends on remittance are empty inside.
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Apr 15, 2022 05:55am
Say MashaAllah !
Proud of you foreigner Pakistani !
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Apr 15, 2022 05:58am
We earn 5 billion in exports and remittances a month and the nation needs to keep our imports within that limit until we find ways to export more.
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Apr 15, 2022 09:35am
Halt these remittances, don't you know where they will all land in now?
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Apr 15, 2022 01:15pm
Thanks for the remittance you made for your country. Please do more and more. Ask your govt. not to forget your legitimate voting rights that you deserves.
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