Remittances rise 16.5pc in August to $3.66bn
https://www.dawn.com/news/2028756
Remittances from overseas Pakistanis surged 16.5% year-on-year and 0.7% month-on-month in August, reaching $3.66 billion, according to the State Bank of Pakistan (SBP). This represents a significant 14.7% increase in the first two months of the 2026-27 fiscal year, totaling $7.3 billion. The government has expressed satisfaction with this trend, which supports household incomes, foreign exchange liquidity, reserves, and overall external-sector resilience.
However, investors in Gulf countries are concerned about Pakistanis repatriating liquid assets amidst war uncertainty. Pakistan has set a target of $44 billion for remittances in the current fiscal year, and the latest data suggests the goal is on track. Remittances from the UAE saw the most significant increase in August, up $106.9 million to $749.8 million, while inflows from Saudi Arabia and the UK were also notable.
The trend appears to be favorable for Pakistan's external account, with sustained remittance flows playing a crucial role in the country's economic stability.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
