Remittances rise 14pc to $10.9bn in July-Sept

Dawn reported that overseas Pakistani workers sent home 14 per cent more money in the July-September quarter of FY27 than a year earlier, according to State Bank of Pakistan data released on Friday. Total inflows reached $10.9 billion, up from $9.5 billion in the corresponding stretch of the prior fiscal year. September alone brought in $3.6 billion, 12.7 per cent more than a year earlier but 1.9 per cent below August.

Almost all major sources recorded growth, with the United Kingdom posting the fastest rise, 19.4 per cent to $1.643 billion. Saudi Arabia stayed the largest contributor at $2.686 billion, up 16.2 per cent, while the UAE sent $2.23 billion, a gain of 12.6 per cent. The European Union supplied $1.4 billion, up 9.8 per cent, while other GCC countries sent $1 billion, a rise of 11.7 per cent.

Earlier worries that a seven-month Gulf war would hit these inflows have not materialised, the latest figures suggest. Dawn noted that the trend could help the government reach its $44 billion annual target for FY27, yet the trade deficit still offsets part of the gain. Exporters dispute the government's view that incentives support them, arguing heavy taxation has weakened their sector. The World Bank separately said this week that 48 per cent of the population lives below the poverty line.