Remittances from overseas Pakistanis totaled $3.137 billion in August, a 6.6% year-on-year rise, according to data issued by the State Bank of Pakistan (SBP) on Monday.
The central bank said the monthly inflow had declined slightly by 2.4% compared to July, when remittances totaled $3.214 billion. Overall, in the first two months of the ongoing fiscal year, remittances increased by 7%, indicating a recent reduction in incentives has not had any major impact on remittances through formal banking channels.
According to the SBP data, the remittance inflows during the first two months pale compared to the 44% year-on-year surge witnessed last fiscal year. The momentum had persisted throughout the year, with the country receiving $38.3 billion in remittances overall. This year, per the federal budget, the government hopes to receive $40 billion in remittances. This is considered key to maintaining a current account surplus and preserving a stable exchange rate.
The information compiled by the central bank indicates that while inflows from Gulf states remain dominant, there has been a decline in remittances from regions outside the Middle East. Overall, Gulf Cooperation Council states and Saudi Arabia and the U.A.E. accounted for around 55% of the total remittances received in the first two months of FY26.