Remittances from overseas Pakistanis exceeded three IMF tranches within one month, SBP data showed. Inflows surged sharply in December, offering strong economic relief. The development boosted confidence at the start of the New Year.
The State Bank of Pakistan reported remittances between $3.06 billion and $3.6 billion in December. This marked one of the strongest monthly inflows in recent years. The amount matched more than three IMF programme installments.
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Official data showed remittances rose 13% month-on-month and 17% year-on-year. The growth reflected rising trust in formal banking channels. Experts said the trend supports foreign exchange reserve stability.
Saudi Arabia remained the top source with $810 million sent in December. The UAE followed with $726 million, posting a 15% increase. Meanwhile, remittances from the UK rose 28%, while Gulf countries saw a sharp 39% jump.
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Economists said higher remittances will help control the trade and current account deficits. Increased inflows ease pressure on the rupee. Analysts view the performance as a timely boost for Pakistan’s economy.