Karachi (TDI): Pakistan received a record $4.1 billion in remittances in March 2025, the highest monthly inflow on record, State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Monday.
Addressing an event at the Pakistan Stock Exchange, Ahmad said that the surge in inflows provided crucial support to the economy, foreign exchange reserves, and liquidity for importers.
This marks the first time that Pakistan’s remittances have hit the $4-billion threshold in a single month.
The inflow represents a 37 percent increase year-on-year compared to $2.95 billion in March 2024.
Month-on-month, remittances rose by nearly 30 percent, up from $3.12 billion in February 2025.
Between July 2024 and March 2025, Pakistan received $28 billion in workers’ remittances, reflecting a 33.2 percent increase from the $21.04 billion recorded in the corresponding period of the previous fiscal year.
Read More: Pakistan’s Remittances to Reach $36 Billion in FY25
SBP governor projected that foreign exchange reserves would cross $14 billion by June.
He added that while foreign debt obligations for FY25 stand at $26 billion, the government expects $16 billion to be rolled over or refinanced, reducing net repayment pressure to around $10 billion.
The SBP governor further highlighted that early signs of economic recovery, but said overall GDP growth for FY25 was now likely to be around 3 percent, down from earlier projections of over 4.2 percent, largely due to a weaker-than-expected agricultural season.
In January, Ahmad had said that the country’s macroeconomic targets were on track, with debt levels and the balance of payments under control.
The SBP attributed the increase to enhanced formal banking channels, seasonal factors like Ramadan-related giving, and exchange rate stability which encouraged legal transfers.
Read More: Pakistan’s Remittances Surge 29% in Sept
Remittances continue to play a major role in supporting Pakistan’s external account, stabilizing foreign reserves, and supplementing household incomes.
Remittances from other Gulf and European nations also contributed to the surge, though in smaller volumes.
