Workers remittances increase by 8.41pc to $9.5bn in FY26’s 1st quarter

Published October 9, 2025
A file photo of a person holding US dollar bills. — AFP/File
A file photo of a person holding US dollar bills. — AFP/File

The State Bank of Pakistan (SBP) said on Thursday that overseas workers’ remittances witnessed an increase of 8.41 per cent during the first quarter (July-September) of fiscal year 2025-26.

The central bank said an inflow of $9.536 billion was recorded during July-September 2025 as compared to $8.796bn during the same period last year.

On a year-on-year basis, the SBP said workers’ remittances went up by 11.33pc in September to $3.183bn from $2.859bn during the same month last year.

It added that remittance inflows during September were mainly sourced from Saudi Arabia ($750.9 million), the United Arab Emirates ($677.1m), the United Kingdom ($454.8m) and the United States ($269m).

Adviser to Finance Minister Khurram Schehzad said Pakistan received $38.3bn in remittances during the last fiscal year, adding that remittances were expected to surpass $41bn in the current fiscal year.

Remittances are a lifeline for millions of households across the country, he said, adding that the continuous increase in remittances strengthened Pakistan’s external accounts.

‘‘Remittances are not merely a source of financial inflow but a symbol of national and economic resilience.’’

Currency experts believe remittance growth this year is weaker than in FY25. They cite concerns over a “managed” exchange rate, suggesting some inflows may be diverted away from official banking channels. Despite the rupee’s appreciation over the past two months, market participants argue the current rate may not reflect true market parity.

The government received $38bn in remittances in FY25 and has set a target of $40bn for the current fiscal year. Currency analysts believe maintaining FY25’s inflow level would support exchange rate stability.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

JAAC ban
Updated 07 Jun, 2026

JAAC ban

Though the JAAC’s demands are open to scrutiny, banning any political organisation — as long as it remains committed to peaceful activism — is undemocratic.
GB election
Updated 07 Jun, 2026

GB election

It is important that whichever party ultimately forms the government puts the needs of the people of GB above everything else.
ODI win
07 Jun, 2026

ODI win

AT last, the Pakistan cricket team had something to celebrate: a One-day International series victory against...
Trump rebuked
Updated 06 Jun, 2026

Trump rebuked

OBSERVERS across the world have long questioned the utility of Donald Trump’s now three-month-old war on Iran. But...
Hostile water motives
06 Jun, 2026

Hostile water motives

INDIA’S latest move to advance the Chenab-Beas Link Tunnel Project and its plan to flush silt from the Salal Dam...
Polio progress
06 Jun, 2026

Polio progress

PAKISTAN’S latest sub-national polio campaign offers encouraging evidence that the country can still push back...