19 h. ago Exchange companies contribute $5 billion in remittances during FY2024

Foreign currency exchange companies in Pakistan contributed nearly $5 billion in remittances during the fiscal year 2024–25, marking a growing role in stabilizing the currency market. In June alone, they sold around $450 million to banks, according to the Exchange Companies Association of Pakistan (ECAP). ECAP Secretary General Zafar Paracha praised the State Bank of […]

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6 d. ago PBA Strongly Refutes Misleading Claims on Remittance Subsidies

  Karachi, June 30, 2025 – The Pakistan Banks Association (PBA) strongly rejects misleading assertions in recent press coverage suggesting that government subsidies to banks under remittance incentive schemes serve no economic purpose. Such narratives dangerously undermine public confidence at a time when Pakistan’s financial stability depends on robust formal remittance flows. When the Pakistan […]

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8 d. ago ACE Money Transfer CEO meets ministers to advance legal remittance, financial digitization

Mr Rashid Ashraf, Chief Executive Officer of ACE Money Transfer, conducted a series of strategic meetings in Islamabad with the Honorable Finance Minister, Mr. Muhammad Aurangzeb, and other senior government officials to discuss collaborative efforts aimed at strengthening Pakistan’s Financial infrastructure and enhancing formal remittance inflows. A key focus of discussion was the development of […]

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8 d. ago ACE Money Transfer CEO Meets Senior Ministers to Advance Legal Remittance and Financial Digitization

Islamabad – June 26, 2025 — Mr. Rashid Ashraf, Chief Executive Officer of ACE Money Transfer, conducted a series of strategic meetings in Islamabad with the Honorable Finance Minister, Mr. Muhammad Aurangzeb, and other senior government officials to discuss collaborative efforts aimed at strengthening Pakistan’s Financial infrastructure and enhancing formal remittance inflows. A key focus […]

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1 week ago Pakistan’s economic momentum grows as remittances hit $34.89 billion

Pakistan’s economy continues to strengthen for the second consecutive year under the Special Investment Facilitation Council (SIFC). Reforms and strategic investment policies have boosted confidence both locally and internationally. The country has shown progress in key areas including economic growth, trade, and investor returns. During the first 11 months of fiscal year 2024-25, remittances surged […]

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3 w. ago PM Shehbaz pays tribute to overseas Pakistanis on International Day of Family Remittances

ISLAMABAD – Prime Minister Shehbaz Sharif has paid a heartfelt tribute to overseas Pakistanis as the International Day of Family

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3 w. ago Remittances from overseas Pakistanis a cornerstone of national economy: PM

In his message on Int’l Day of Family Remittances, the premier pays heartfelt tribute to global Pakistani community ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif has said that today, Pakistan joins the international community in observing the International Day of Family Remittances, a day dedicated to honouring the vital contributions of migrant workers who, through their […]

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3 w. ago Pakistan’s remittances jump to $3.68bn in may, on track for record $38bn in FY25

Remittances to Pakistan rose sharply to $3.68 billion in May 2025, marking a 16% increase from April and a 13.67% rise year-on-year, according to the State Bank of Pakistan. This strong growth continues the upward trend in remittance inflows. It also plays a key role in strengthening Pakistan’s foreign reserves and supporting the economy. From […]

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3 w. ago Pakistan records remittances inflow of $3.7 billion in May 2025

KARACHI – Pakistan recorded workers’ remittances inflow of $3.7 billion in May 2025. According to data released by the State

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3 w. ago PM Shehbaz calls economic indicators ‘satisfactory’, urges unity for growth

ISLAMABAD: Prime Minister Shehbaz Sharif said that Pakistan’s economic indicators are “satisfactory,” and now is the time to move forward. He highlighted growth in exports, remittances, and IT exports, expressing optimism about Pakistan’s economic direction. Addressing a federal cabinet meeting before the budget presentation, the Prime Minister emphasized the resilience shown by the nation over […]

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3 w. ago Pakistan posts $1.9 billion current account surplus, boosted by remittances and IT exports

In a rare economic turnaround, Pakistan recorded a $1.9 billion current account surplus during July-April FY2025. This marks a sharp contrast to the $1.3 billion deficit in the same period last year. The Ministry of Finance described this as a “historic achievement”, last seen only in 2003 when the surplus hit $4.1 billion. Finance Minister […]

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