Islamabad: There has been a marked increase in remittances at the onset of the current fiscal year, attributed largely to initiatives by the Special Investment Facilitation Council (SIFC).
According to Ministry of Information and Broadcasting, the State Bank of Pakistan reports a forty-four percent rise in remittances, totaling 5.94 billion dollars—an increase of 1.81 billion dollars over the same period last year. This growth follows government measures against informal money transfers and smuggling, which have helped stabilize the exchange rate and boost foreign reserves.