Govt extends incentive scheme to support overseas Pakistanis

Overseas workers and businessmen play crucial role in Pakistan’s development and progress by sending remittances, PM says
A currency exchange agent counts US Dollars at his company in Iraqs southern city of Basra, on December 8, 2023. — AFP
A currency exchange agent counts US Dollars at his company in Iraq's southern city of Basra, on December 8, 2023. — AFP

Prime Minister Shehbaz Sharif-led government has announced that it will continue the incentive scheme for the remittances of overseas Pakistanis to the country.

The prime minister directed the Ministry of Finance to immediately release funds for the Workers’ Remittances Incentive Scheme on a priority basis.

“Overseas Pakistanis are our strength and a valuable asset of Pakistan,” the prime minister stated. “The hard-earned remittances of overseas Pakistanis play an important role in the development of Pakistan, which the entire nation, including me, values.”

In the fiscal year 2025, he said overseas Pakistanis played an important role in achieving the target of current account surplus for the first time in 14 years by sending a record high of $38.3 billion in remittances.

These remittances not only helped pay the rising import bill but also helped increase foreign exchange reserves, according to the prime minister.

He said: “Overseas workers and businessmen play a crucial role in the country’s development and progress by sending remittances to their homeland.”

“We are removing obstacles in the way of remittances sent by hardworking Pakistanis abroad by making the system better, more efficient and easier,” he added.

According to State Bank of Pakistan (SBP) data, the inflow of overseas workers’ remittances into Pakistan stood at $38.3 billion in fiscal year 2024-25, the highest-ever in the country’s history.