Remittances surge $5bn in 7 months

Amid a robust inflow of remittances, Pakistan met the $5 billion annual growth target in the first seven months of the current fiscal year. The latest data issued by the State Bank of Pakistan (SBP) on Monday showed that the country received $20.8bn in remittances during the July-January FY25 compared to $15.8bn, showing the country received an additional $5bn with a growth of 31.7pc. Finance Minister Mohammad Aurangzeb and SBP Governor Jameel Ahmed recently told the media that the country would get about $35bn in remittances in FY25 against the $30.25bn it received in the preceding year. However, the country achieved the projected growth target thanks to improved inflows during the first seven months.