KARACHI, October 27, 2026: The State Bank of Pakistan has raised its forecast for workers’ remittances in the current fiscal year to $45 billion, an increase of $1 billion from its earlier projection.
Governor Jameel Ahmad announced the revised estimate during Monday’s monetary policy briefing, citing the resilience of overseas inflows during the first quarter of FY27.
The new forecast represents an increase of approximately 2.3% over the previous $44 billion estimate.
Remittances are an important source of foreign exchange for Pakistan, helping households meet expenses while supporting the country’s external payments position.
The governor attributed the stronger performance to several factors, including exchange-market reforms, tighter controls and improvements in formal money-transfer channels.
He also argued that higher inflows could not be explained solely by an increase in the number of Pakistanis working overseas.
The central bank expects its foreign exchange reserves to reach $23 billion by December 2026 and $25 billion by June 2027.
Those targets account for expected external debt repayments and other financing requirements, according to the governor.
The SBP also expects the current account deficit to remain within its previously projected range of zero to one percent of gross domestic product.
Nevertheless, the remittance figure is a forecast rather than money already received.
Its achievement will depend partly on overseas economic conditions, the continued use of formal transfer channels and developments affecting Pakistan’s external sector.
Future monthly remittance releases will provide a clearer indication of whether inflows remain on course to meet the revised target.