In the previous year, 2024, more than 700,000 Pakistanis moved abroad in search of better job opportunities that is making a trend in the country’s workforce migration.
Reports revealed 727,381 Pakistanis left the country in 2024, compared to 862,625 in 2023. This represents a 15% decline in the migration of Pakistanis abroad last year.
Some experts see the migration of a huge number of Pakistanis every year as harmful to Pakistan, while the other side highlights its benefits.
Some professionals view this “brain drain” as a hurdle in Pakistan’s development. They stress the need to provide opportunities within the country to harness the potential of skilled individuals for national development.
They believe retaining talent is essential for sustainable growth. On the other hand, remittances sent by overseas Pakistanis play an important role in the recovery of Pakistan’s economy.
Additionally, experts argue that those working abroad refine their skills and introduce modern technology. An expert said remittances have become the backbone of Pakistan’s economy, which assists the country in paying its import bills.
According to data from the State Bank of Pakistan (SBP), Pakistan received $3.1 billion in worker remittances during December 2024. This represents a 29.3 percent year-over-year increase and a 5.6 percent month-over-month rise.
In the first half of the fiscal year 2025 (H1FY25), remittance inflows totaled $17.8 billion, showing a 32.8 percent increase compared to the $13.4 billion recorded during the same period in FY24.
Remittance inflows during December 2024 were mainly sourced from Saudi Arabia ($770.6 million), the UAE ($631.5 million), the UK ($456.9 million), and the US ($284.3 million).
These remittances continue to serve as a basis of Pakistan’s economy, playing a crucial role in its recovery and financial stability.