PM Shehbaz Congratulates Nation on Record Remittance Growth, Dismisses Claims of Economic Decline

ISLAMABAD: Prime Minister Shehbaz Sharif congratulated the nation on the record increase in remittances, emphasizing that the claims of those who had called for halting the wheels of the economy had proven to be baseless.

According to data from the State Bank of Pakistan, overseas Pakistanis sent 33% more remittances during the first half of the current fiscal year. The central bank reported that in December 2024, Pakistan received $3.07 billion in remittances, marking a 29% increase compared to December 2023.

The data revealed that the highest remittances came from Saudi Arabia, which sent $770 million, followed by the United Arab Emirates with $630 million. Additionally, the UK sent $450 million, Europe contributed $360 million, and the US sent $280 million.

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The State Bank’s figures showed that, for the first half of the fiscal year, Pakistanis sent a total of $17.84 billion in remittances, which is a 33% increase compared to last year. Overall, the total remittances from January to December 2024 amounted to $34.65 billion.

Prime Minister Shehbaz Sharif expressed his appreciation for the commitment of overseas Pakistanis, stating that the record increase in remittances reflects their dedication to contributing to the nation’s development. He pointed out that the claims of those who had predicted an economic collapse had failed to materialize. “Pakistan, after achieving economic stability, is now on the path to economic growth,” he said. The Prime Minister reaffirmed the government’s commitment to national development and the welfare of the people.