In a landmark achievement, Pakistan received a record-breaking $4.1 billion in workers’ remittances during March 2025, according to State Bank of Pakistan (SBP) Governor Jameel Ahmad. This is the highest monthly figure ever recorded for remittances in the country’s history.
Speaking at the Pakistan Stock Exchange (PSX) to mark the start of Financial Literacy Week, Governor Ahmad announced that the SBP has revised its annual forecast for remittance inflows to $38 billion for FY2024-25—up from an earlier estimate of $36 billion.
SBP’s data confirms that remittances surged by 37% year-on-year, compared to $2.95 billion in March 2024. Month-over-month, the growth stood at an impressive 30%, rising from $3.12 billion in February 2025.
The SBP governor expressed confidence that Pakistan’s current account will remain in surplus throughout the fiscal year, highlighting this as the most robust external account performance in two decades.
Ahmad also announced an upward revision of Pakistan’s foreign exchange reserves forecast. The SBP now expects to hold $14 billion in reserves by the end of June 2025, compared to the earlier projection of $13 billion. Despite recent outflows due to debt repayments, the SBP’s reserves currently stand at $10.6 billion.
He projected an inflow of $4–5 billion from international financial institutions and other external sources by June’s end, further boosting the reserves.
Economic activity in the country appears to be gaining momentum, with imports rising to $5.7 billion per month. “Those who believe that import restrictions are stalling economic activity should take a closer look at the data,” Ahmad remarked.
On the macroeconomic front, the SBP expects Pakistan’s GDP to grow by 3% in FY25. Ahmad noted that the growth rate could have reached 4.2% had the agriculture sector maintained last year’s strong performance of 8%.
Meanwhile, inflation is expected to tick upward in the coming months, following a historic low of 0.7% recorded in March 2025—the lowest in six decades.