Pakistan gets $3.6bn remittances in July, PM welcomes rise

Reacting to the latest figures, the prime minister described the inflow as encouraging, noting that remittances recorded a 13 per cent increase

ISLAMABAD: Prime Minister Shehbaz Sharif has welcomed a strong increase in remittances sent by overseas Pakistanis, with the country receiving $3.6 billion during July.

Reacting to the latest figures, the prime minister described the inflow as encouraging, noting that remittances recorded a 13 per cent increase compared with the same month last year.

He also highlighted a month-on-month rise, saying remittances grew by 4.5 per cent in July. The continued increase provides further support to Pakistan’s foreign exchange position and reflects the growing contribution of overseas Pakistanis to the national economy.

Shehbaz praised the Pakistani diaspora for playing an important role in supporting economic stability. He said overseas Pakistanis remain an important part of the country’s economic strength and appreciated their continued support through financial transfers.

The latest rise in remittances comes as Pakistan continues efforts to strengthen its external account, improve foreign exchange liquidity and maintain economic stability.