Pakistan received a record $4.1 billion in remittances during March 2025, according to State Bank of Pakistan (SBP) Governor Jameel Ahmad.

This surpasses the $3.12 billion received in February, representing a significant boost to the nation’s economy. Compared to January 2025, remittances increased by 3.8 percent.

For the first nine months of the fiscal year (July-March), total remittances reached $28.07 billion—a substantial 33 percent increase compared to the same period last year.

Governor Ahmad, speaking at the Pakistan Stock Exchange, also projected foreign reserves to exceed $14 billion by June. He noted that while foreign debt repayment obligations for FY25 stand at $26 billion, approximately $16 billion is expected to be rolled over or refinanced, lessening the actual repayment burden to around $10 billion.

The SBP governor highlighted a revival in economic activity, although he noted that a weaker-than-expected agricultural season has lowered the projected GDP growth to around 3 percent, instead of the initially projected 4.2 percent. Major contributors to March’s remittances included Saudi Arabia ($987 million), the UAE ($842 million), the UK ($684 million), and the US ($419 million), according to AKD Securities.

Governor Ahmad also addressed inflation, stating that March’s Consumer Price Index (CPI) inflation reached a historic low of 0.7 percent, exceeding market expectations and the Ministry of Finance’s projection. This significant drop is attributed to lower prices for wheat, certain vegetables, and electricity.

Pakistan’s economic indicators have steadily improved after signing a $7 billion bailout agreement with the International Monetary Fund last year. Inflation has fallen to single digits and policy rates have also been lowered accordingly.