Remittances jump 40pc in February, total $3.12bn
Remittances from overseas Pakistani workers soared by nearly 40 per cent year-on-year in February 2025, reaching $3.12 billion, according to State Bank of Pakistan (SBP) data released on Monday. Compared to January 2025, remittance inflows increased by 3.8pc, providing much-needed financial support to the economy, government reserves and liquidity for importers. For the first eight months of FY25 (July-February), total remittances reached $23.97bn, marking a substantial 32.5pc rise compared to the same period a year ago. The government had projected total remittances of $35bn for FY25, around $5bn more than last year. However, remittances have already exceeded expectations, with additional inflows of $5.9bn in just eight months. For economists and financial analysts, the rise in remittances is both a positive and negative indicator — while the surge in inflows has helped stabilise the rupee and support the economy, it reflects the government’s increasing dependence on remittances, rather than boosting exports, to sustain foreign exchange reserves.