Remittances surge shows expats’ trust in govt: PM

ISLAMABAD: Prime Minister Shehbaz Sharif has said that Pakistan received $34.9 billion in remittances during the current fiscal year, reflecting a 28.8 percent increase compared to the previous fiscal year.

In a statement, he emphasized that the surge in remittances is a testament to the growing confidence of overseas Pakistanis in the country’s economic policies.

He further said that in May 2025 alone, remittances amounted to $3.7 billion, marking a 13.7 percent increase from the same month in the previous year.

He expressed satisfaction over the stock market reaching a historic high of 124,000 points and the rise in remittances last month.

In a statement, the prime minister said the bullish trend in the stock market reflects the confidence of investors and the business community in the people-friendly budget.

He mentioned that no additional tax burden has been imposed on the common man in the budget and increase in salaries and reduction in taxes will provide relief to salaried class.

The prime minister said the journey of economic development has begun, adding that all must work together to improve the lives of the common people. He said reduction in inflation, increase in foreign exchange reserves, remittances and exports have been made possible due to the tireless efforts of the economic team.

He said Pakistan’s return from the brink of default and the beginning of economic stability and growth is nothing short of a miracle. “This exemplary economic turnaround, achieved through the hard work of the economic team and by prioritising Pakistan’s national interests, will be remembered in history in golden words,” he observed. The prime minister also highlighted that the government’s economic initiatives, along with a public-friendly budget for the upcoming fiscal year, signal a promising future for Pakistan.

Meanwhile, Prime Minister Shehbaz Sharif is scheduled to undertake an official visit to the United Arab Emirates (UAE) on Thursday, along with a high-level delegation The visit reflects the deep-rooted fraternal ties between Pakistan and the UAE, which are marked by mutual trust, shared values, and close cooperation across multiple sectors, stated a Foreign Office (FO) press release.

A high-level delegation, including the Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers, and other senior officers will accompany the prime minister.During the visit, PM Shehbaz will hold high-level meetings with the UAE leadership, including a bilateral meeting with the President of the UAE and Ruler of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan.