Govt Eyes $50 Billion Target to Increase Remittances to Pakistan

ISLAMABAD: In a strategic push to increase remittances to Pakistan, top officials have begun formulating plans to encourage overseas Pakistanis to use official channels, aiming to raise annual remittance volumes to $50 billion within five years.

According to an official statement, Rashid Ashraf, Chief Executive Officer of UK-based ACE Money Transfer, recently held a series of high-level meetings in Islamabad with Finance Minister Mohammad Aurangzeb and other senior government figures. These discussions centred on collaborative strategies to bolster Pakistan’s financial systems and enhance the flow of legal remittances.

A key part of the dialogue focused on designing structured incentive programmes to motivate overseas Pakistanis to remit funds through regulated platforms. In a separate session with Information Minister Attaullah Tarar, discussions highlighted the need to boost public awareness around the advantages of sending money through legitimate means.

Further consultations took place with Federal Minister for Overseas Pakistanis and Human Resource Development Salik Hussain and Parliamentary Secretary Ihsanul Haq Bajwa. These talks underscored how vital overseas communities are to Pakistan’s development goals.

The wide-ranging discussions also explored ways to formalise undocumented migration and money transfers, improve the arrival experience at Pakistani airports, and roll out state-led initiatives to honour overseas Pakistanis who excel in their professions. With this multi-pronged strategy, the government hopes to not only recognise the contributions of its diaspora but also firmly increase remittances to Pakistan through secure, official channels.