Follow Us on Google News
Prime Minister Shehbaz Sharif on Friday congratulated the nation for achieving a record increase in foreign remittances in December 2024, a milestone that highlights the country’s economic resilience despite earlier claims of impending financial decline. The prime minister’s remarks came as the latest figures revealed that foreign remittances reached an impressive $3.1 billion in December, showing a 5.6% increase compared to November 2024.
In a statement issued from Islamabad, Prime Minister Sharif praised the contributions of overseas Pakistanis, attributing the 29.3% year-on-year growth in December 2024 to their unwavering commitment to supporting the country’s development.
“This record increase in foreign remittances reflects the dedication of our overseas Pakistanis, who continue to play a vital role in the nation’s progress,” said the prime minister. He further stated that after stabilizing the economy, Pakistan is now on the path of sustained growth, with the government focused on advancing national development and public welfare.
The State Bank of Pakistan (SBP) had earlier reported that remittances in December 2024 totaled $3.10 billion, marking a 6% growth compared to November. Furthermore, during the first half of the fiscal year (July-December 2024), remittances amounted to $17.80 billion, reflecting a significant 33% increase from the same period in 2023.
SBP also highlighted that November 2024 remittances surged by 29.1% year-on-year, with major inflows from Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States.
The prime minister’s message of congratulations underscores the positive impact of the nation’s overseas workforce and serves as a reaffirmation of Pakistan’s growing economic strength.
