Karachi : April 8, 2024: The State Bank of Pakistan (SBP) on Monday released the Workers’ Remittances for March 2024. It said the Workers’ Remittances recorded an inflow of US$3.0 billion during March 2024.
In terms of growth, during March 2024, remittances increased significantly by 31.3 percent on m/m basis and 16.4 percent on y/y basis.
The Workers’ Remittances recorded an inflow of US$ 21.0 billion during first nine months of FY24 and
showed an increase of 0.9 percent as compared to US$20.8 billion remittances recorded during
Comfort.
The Workers’ Remittances inflows during March 24 were mainly sourced from Saudi Arabia
(US$703.1 million), United Arab Emirates (US$548.5 million), United Kingdom (US$461.5 million)
and United States of America (US$372.5 million. Pakistan heavily dependent on the workers remittances to meet it dollar demand to pay off its liabilities. A big increase of 31.3 % in the workers remittances show a healthy trend and it keeps Pakistan’s hope for economical revival alive.