Remittances to cross $41.5bn in FY26: SBP Governor

July 03, 2026 (MLN): Workers' remittances are projected to exceed $41.5 billion in fiscal year 2025-26, showing continued strong inflows from overseas Pakistanis and reinforcing the country's external sector stability, State Bank of Pakistan (SBP) Governor Jameel Ahmad said.

Speaking at a media briefing in Karachi, the SBP Governor said that while the final remittance figures for June will be compiled in the coming days, preliminary estimates indicate that total inflows for FY26 are expected to surpass the $41.5bn mark.

Jameel Ahmad said workers' remittances have remained a key pillar of Pakistan's external stability, increasing from $27.3bn in FY23 to $38.3bn in FY25.

The preliminary FY26 estimate of over $41.5bn is broadly in line with the SBP's earlier projection of $41bn to $42bn.

He added that remittance inflows are expected to increase further during FY27.

The projected record inflows come after the SBP reported that Pakistan's foreign exchange reserves increased by approximately $5.5bn during the fiscal year, reaching $18.4bn by the end of June.

The central bank also highlighted a significant decline in its forward foreign exchange liabilities, further strengthening the country's external sector position.

The SBP Governor also declared that the government would discontinue subsidizing remittance incentive schemes.

Participating banks will continue operating the schemes under the existing framework while bearing all associated marketing costs themselves, while overseas Pakistanis will continue to receive remittance services free of charge.

Commenting on the Roshan Digital Account (RDA) initiative, Jameel Ahmad said inflows under the scheme have improved significantly, averaging around $300m per month following recent enhancements to its operating framework.

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