Contrary to claims by PTI Founder Imran Khan, Overseas Pakistanis have sent a record-breaking $14.76 billion in remittances in just five months. From July to November 2024, this unprecedented figure has more than doubled Pakistan’s $7 billion IMF loan secured under strict conditions over three years.
The State Bank of Pakistan (SBP) released data on Friday showing that remittances in November 2024 alone reached $2.91 billion. These five months marked the highest remittance inflow in Pakistan’s history.
Saudi Arabia topped the list of contributors, with expatriates sending $730 million in November. They were followed by Pakistanis in the UAE ($620 million), the UK ($410 million), and the US ($290 million).
Although remittances dropped by 5% compared to the previous month, they surged by 29% compared to the same period last year. Economic experts believe this increase will help achieve a current account surplus and strengthen the Pakistani rupee.
PM Shehbaz Sharif Lauds Overseas Pakistanis
Prime Minister Shehbaz Sharif praised the record-breaking $2.91 billion remittances sent in November 2024. He expressed gratitude to overseas Pakistanis, calling them the “pride and ambassadors” of the country.
Shehbaz credited this growth to the confidence of overseas Pakistanis in his government’s economic policies. “This increase reflects the trust of expatriates in the government’s efforts,” he said.
The prime minister assured overseas Pakistanis that resolving their issues remains a priority. He highlighted the government’s focus on policies that support economic stability and benefit the nation. “By Allah’s grace, the hard work of our economic team is yielding results,” Shehbaz remarked.
He also emphasized the importance of the diaspora’s contributions to Pakistan’s global image. “Overseas Pakistanis are making our country proud worldwide,” he said, promising to address their concerns and ensure their continued support for the nation.
PTI’s Baseless Criticism Exposed
PTI leaders have often claimed that government policies deter overseas Pakistanis from supporting the economy. However, this record-breaking inflow of remittances highlights the flaws in PTI’s narrative.
The data proves that overseas Pakistanis trust the current government’s policies and vision. These remittances offer critical support to Pakistan’s economy, directly contradicting PTI’s tactics to portray a bleak economic picture.
The government’s successful efforts to enhance economic stability and diaspora engagement have clearly paid off, setting a positive direction for Pakistan’s financial future.
