KARACHI: Remittances to Pakistan increased 16.5 per cent month-on-month (MoM) to $3.8 billion in March, the central bank data showed on Wednesday, driven by a seasonal surge in these inflows during Eid, highlighting their resilience despite a war in the Middle East that lasted more than a month.
However, money sent home by Pakistani workers employed abroad fell by 5.5 per cent year-on-year (YoY).Remittances rose 8.2 per cent to $30.3 billion in the nine months of fiscal year 2026.
“The spike [in remittances] is largely seasonal in nature, driven by elevated remittance flows ahead of Eidul Fitr, a well-established annual pattern whereby overseas Pakistanis transfer higher sums to support household expenditures during the festive period,” said Waqas Ghani, head of research at JS Global.
“Saudi Arabia emerged as the standout performer in March 2026, with remittance inflows surging to $918 million — a sharp 34 per cent MoM increase from $686 million in February,” Ghani added.
Recently, Finance Minister Muhammad Aurangzeb told the National Assembly that the regional geopolitical tensions have not significantly impacted Pakistan’s remittances from the Middle East so far. He highlighted that approximately 40-50 per cent of Pakistan’s remittances come from Gulf Cooperation Council (GCC) countries, underscoring the region’s importance for external financial inflows. The minister also mentioned that the government is assessing its resilience in terms of how any disruptions may affect the balance of payments and the current account.
The strong growth in remittances over the years has partly helped finance Pakistan’s widening trade deficit.The recent remittance figures come after the US and Iran agreed to a two-week ceasefire, facilitated by Pakistani mediation. US and Iranian officials are expected to hold talks on Friday in Islamabad to discuss a long-term resolution.
