KARACHI: Despite projected remittance inflows of $38 billion in the current fiscal year (FY25), Pakistan’s per expatriate remittance remains significantly lower than that of peer countries.

“Although remittances have grown at a compound annual rate of 6.1 per cent from 2013 to 2023, per expatriate remittance remains low in comparison to other countries in the region,” said a report released by the Policy Research and Advisory Council (PRAC) on Monday.

“Pakistan’s per expatriate remittance of $2,529 in 2023 remained significantly lower than peer countries — $16,780 for the Philippines, $9,703 for Thailand, $5,914 for Mexico, $4,626 for China and $3,906 for India,” said the report titled “Strategic Management of Pakistan’s Forex Reserves: Boosting Exports and Investment Flows”.

The report said the country’s reserves have fluctuated significantly, largely due to external factors such as global oil price volatility and internal issues like political........

© Dawn Business