By 2034, Pakistan “targets” $60 billion in remittances.

Remittances from outside presently total $32 billion, and the government wants to raise that amount by 10% a year, according to sources in the Finance Ministry.

The Gulf countries and Europe will appoint 26 Community Welfare Attachés next month in order to meet this goal. The sources further stated that these attachés will grant blue passports to abroad Pakistanis and make it easier for them to invest in technology zones.

Along with increasing remittances from Saudi Arabia, Dubai, Qatar, England, New York, and other nations, sources claimed that the government was also taking action in this regard. In order to improve skilled workforce, technical programs and training will begin.

Furthermore, fifty additional training centers for skilled workers are being built throughout the nation. Volunteers with a focus on community welfare will investigate new ventures, markets, employment prospects, and locations for Pakistanis living abroad.

Important to note is that in July 2024, the first month of the new fiscal year, remittances sent by Pakistanis living abroad saw an influx of US$ 3 billion.

Remittances grew by 47.6 percent in July 2024 compared to the same month the previous year, the central bank reported.

The SBP released a statement that stated, “In July 2024, the United States of America (US$300.1 million), Saudi Arabia (US$761.1 million), the United Arab Emirates (US$611.1 million), and the United Kingdom (US$443.5 million) were the primary sources of remittance inflows.”