Pakistan Aims for $60B Remittances by 2034
In a statement issued here, the central bank said that in terms of growth during September 2024, remittances increased by29 percent on a year-on-year basis
“Remittances inflows during July 2024 were mainly sourced from Saudi Arabia (US$681.3 million), United Arab Emirates (US$560.3 million), United Kingdom (US$ 423.6 million), and, the United States of America (US$274.9 million),” the SBP’s statement read.
Earlier, Prime Minister (PM) Shehbaz Sharif unveiled an ambitious plan to boost remittances from overseas Pakistanis to $60 billion by 2034.
According to sources within Finance Ministry, the foreign remittances currently, stand at $32 billion and the government aims to increase it by 10% annually.
Pakistan ‘targets’ $60 billion remittances by 2034
To achieve this target, 26 Community Welfare Attachés will be appointed in Gulf countries and Europe next month. These attachés will facilitate overseas Pakistanis in investing in technology zones and provide them with blue passports, Sources added.
Sources said that the government is also taking steps to increase remittances from Saudi Arabia, Dubai, Qatar, England, New York, and other countries. Technical programs and training will be started to enhance skilled labor.
Additionally, 50 new skilled centers are being established across the country to provide training. Community Welfare Attachés will explore new job opportunities, businesses, markets, and destinations for overseas Pakistanis.
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