Remittances from Overseas Pakistanis - Updates

[hydrabadi_arab]

I had opened the Roshan Digital Account (PKR) in HBL back when it first started during Imran's tenure. Initially the response was good, HBL was swift in opening and sending me the debit card etc.

However, after the PTI govt got kicked to the curb, HBL had recently started charging alot of money each yr for thing like: annual debit card fees, and on top, a fee around 2200 Rs each time i sent a remittance to the RDA account from Canada and it would take several days as well.

I have emptied the RDA account and no longer use it, HBL blocked my account as they cant make money from it anymore

I had opened a local bank account when I was in Pakistan years ago, i just use that and its less costly than the RDA. If u open and can afford all the charges, fees and restrictions of the RDA, good luck to you. The response by email for RDA support has been poor, and i have observed the "relationship managers" be like a revolving door at HBL, my manager kept changing every 3-4 months. And to top it all up, they keep bombaring you with "roshan apni car" and "roshan apna ghar" type bullshit sales shit every fucking week!!

Yeah, ditch the stupid RDA, and go for the local account opening instead if you do need to keep an account in Pakistan !!
It costs much less money.

Try UBL Roshan. Zero fees.

 

[SaadH]

Correct. But the issue is much deeper: remittances, which help families stay afloat, are not working their way into the system in a way that creates more jobs and investment.

The majority of the funds are used for daily necessities:

-> Food and basic household expenses
-> Rent and utilities
-> Healthcare and education

The dollars themselves go straight to the government — and vanish into obligations, which leads to my next point.

The following is the bigger issue

Very little, if any, is used to expand the productive economy. Not to mention the erosion of purchasing power in the local currency; each year, the family's money is worth less than in the previous year. In essence, they are losing money.

The hundi system, by contrast, allows the overseas worker to retain his foreign currency, preserve the real value of his savings, and rely on local currency dealers for rupees, since, over time, his earnings in dollars, dinars, and other stable currencies appreciate relative to the local currency's depreciation.

The current overseas worker holding is losing value over time. If we look at the math after working 10, 15, 20, or 30 years, he comes out a loser in the current system, even if he goes through the formal channel, which the government prefers for obvious reasons.

If you work, for example, for 15 years, earning $15,000 annually, and send back home 1,000,000 Rupees annually, over time, you will have destroyed your hard-earned money by 40%-45% over a 15-year time period. That 15,000,000 Rupees is worth at most 8,000,000 Rupees. Had you kept the money in Dubai, exchanged it with a dealer, and partially saved, you would come out ahead by about 20-30% over 15 years [conservative estimate], keeping your savings and wealth intact.



...and still lose monetarily.

Former Finance Minister Hafeez Pasha will be publishing a report soon which details that the elite chors of Pakistan, the zardar-bhutto-Sharif-Wardi elite mafia devours over $50 billion each year in "obligations/subsidies" for their IPPs, sugar mills, agriculture and tax avoidance as well as favorite activity of outright theft and corruption.

This is the crux of the problem and the singular reason for Pakistan's perennial economic woes, simply put. IK spoke out against this when he mentioned "elite capture" and that's why the mafia got rid of him.

Pakistan is the only country in the world where it's biggest convicted thief enjoys absolute immunity and has served two long terms as President. What do you image would have happened to US had Al Capone be made President in US or Pablo Escobar the PM in Columbia? This the fauji mafia gift that keeps on giving year after year.

 

[PK781]

RDA are people's personal accounts in Pakistan so I don't think they count as a part of the country's foreign exchange reserves.

The number cited was also cumulative over the life of the program so far. This was an intelligent initiative of Imran Khan govt.

a great initiative but it also suffered and now is in shambles.
I've switched to using my local account as its much better.

 

[PK781]

.......... and how you transfer money to your local account in Pakistan from Canada? and is that less costly?

The banks here offer "global money transfer" free of cost (yes they make their money in the rate they give) but money arrives in my bank in Pakistan within a day.
Sometimes within hours. I don't trust these online apps that can just disappear eventhough they're popular and give few Rs more per $100.

Canadian banks are offering this service which is convenient for all Canadians to send home some money (to many many countries).

 

[PK781]

Try UBL Roshan. Zero fees.

thanks for this. I will definitely try it.

 

[PakFactor]

Former Finance Minister Hafeez Pasha will be publishing a report soon which details that the elite chors of Pakistan, the zardar-bhutto-Sharif-Wardi elite mafia devours over $50 billion each year in "obligations/subsidies" for their IPPs, sugar mills, agriculture and tax avoidance as well as favorite activity of outright theft and corruption.

This is the crux of the problem and the singular reason for Pakistan's perennial economic woes, simply put. IK spoke out against this when he mentioned "elite capture" and that's why the mafia got rid of him.

Pakistan is the only country in the world where it's biggest convicted thief enjoys absolute immunity and has served two long terms as President. What do you image would have happened to US had Al Capone be made President in US or Pablo Escobar the PM in Columbia? This the fauji mafia gift that keeps on giving year after year.

Do tag the report, and if you can, copy me as well.

 

[fitpOsitive]

Sometimes I feel that the time of my return to Pakistan is very near.

 

[hydrabadi_arab]

Pakistan have reduced roshan accounts rates today. Which is retarded as Pakistan was paying UAE 6%..... and must of money in these roshan accounts are eventually used in Pakistan anyway.

Tenor	USD (Previous)	USD (New)	PKR (Previous)	PKR (New)
3 Months	7.00%	5.50%	13.50%	10.75%
6 Months	7.00%	5.50%	13.50%	11.00%
12 Months	7.00%	5.75%	13.00%	11.00%
3 Years	7.50%	6.00%	12.50%	11.25%
5 Years	7.50%	6.25%	12.50%	11.50%

 

[ghazi52]

Remittances steady, but war risks loom​

Shahid Iqbal
March 11, 2026

KARACHI: Remittances remained steady in February, with Pakistan receiving $3.3 billion from overseas workers, even as tensions in the Middle East intensified before erupting into war at the end of the month.

The State Bank of Pakistan (SBP) reported on Tuesday that inflows from all major destinations where Pakistanis are employed, including the Middle East, remained stable.

However, currency experts believe remittances could be affected in March as the conflict has already disrupted the economies of oil-producing Arab countries. For the past 12 days, oil supplies have either stopped or remained well below normal levels.

Pakistan has also felt the impact, as the government recently increased petroleum prices by Rs55 per litre, while a federal minister said the initial proposal had been to raise prices by Rs110 per litre. If the war continues, oil prices could rise further.

July-February inflows rise 10.5pc to $26.5bn

 

[hydrabadi_arab]

Foreign firms, nationals allowed to open Roshan Digital Accounts​

Top Story
By Mehtab Hyder
March 17, 2026

ISLAMABAD: The government has decided to expand the Roshan Digital Account (RDA) framework to allow foreign nationals, foreign companies and institutional investors, to open Roshan Digital Accounts and invest in government securities as well as Naya Pakistan Certificates, which offer a ‘very attractive’ rate of return.

The announcement was made by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, who said that this important step reflects the government’s commitment to further integrate Pakistan with global financial markets and attract foreign investment through a secure and transparent digital banking platform.

The finance minister noted that Pakistan’s diaspora of around 11 million people represents one of the largest and most vibrant expatriate communities in the world. In every part of the globe — from the Middle East to Europe, from North America to the Far East — Pakistani professionals, entrepreneurs, workers and students are contributing to their host economies while continuing to support their families and communities back home. He said that overseas Pakistanis are not only a source of economic strength for the country but also serve as ambassadors of Pakistan’s culture, enterprise and values around the world.

Highlighting the role of overseas Pakistanis in strengthening the national economy, Senator Aurangzeb said that according to the State Bank of Pakistan, the country achieved a historic milestone in fiscal year 2025 with record-breaking remittances exceeding $38.3 billion, marking an impressive 26.6 per cent increase compared to the previous year. He added that as Pakistan progresses through fiscal year 2026, remittances are projected to reach an unprecedented $42 billion. This strong performance reflects the continued trust and confidence of the diaspora in Pakistan’s economic prospects and their unwavering support in strengthening the country’s foreign exchange reserves and overall economic growth. With this consistent performance, Pakistan now ranks fifth among the top remittance-receiving countries globally and second in South Asia.

Senator Aurangzeb also emphasised that remittance inflows remain the single most critical factor in stabilising Pakistan’s external account, enabling the country to maintain a sustainable balance of payments and build its foreign exchange reserves. He noted that the State Bank of Pakistan’s reserves currently stand at around $16.3 billion, while the country’s total foreign exchange reserves amount to approximately $21.6 billion.

Senator Aurangzeb stated the RDA serves as a flagship digital banking mechanism that allows non-resident Pakistanis to open bank accounts remotely, invest in government securities and Naya Pakistan Certificates, trade on the Pakistan Stock Exchange and in mutual funds, and purchase property in Pakistan, in addition to accessing a wide range of digital banking services. Expressing satisfaction, the finance minister said as of the end of February 2026, more than 900,000 Roshan Digital Accounts have been opened, with total inflows exceeding $12 billion. He congratulated the State Bank of Pakistan and the participating RDA member banks for providing modern digital banking services to Pakistan’s diaspora and for the initiative’s fast-track growth.

Senator Aurangzeb said the decision to expand the RDA framework to include foreign nationals, companies and institutional investors would further enhance Pakistan’s attractiveness as an investment destination and deepen the country’s financial markets.

Addressing the global investment community, the finance minister said Pakistan is open for investment. He emphasised that the government’s ongoing reforms, strengthened digital infrastructure and expanding financial access are creating a welcoming, transparent and secure environment for global capital. He invited investors from around the world to explore the opportunities Pakistan offers and to become partners in the country’s economic future.

 

[fitpOsitive]

Yeah because Pakistanis became prime target in middle east. Thousands were expelled. So Pakistanis scattered around the globe. But Indias 45% overseas remittances are still dependent on west Asia as they call it.

 

[Fatman17]

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[KingQamaR]

Unfortunately, bc lazy Pakistan, relies so much on these poor labourers remittances earned and sent from Gcc countries .. is the problem. Pakistan is being held prisoner by GCC sheikhs . And why you can’t import your gas and oil from next door neighbour Iran.

 

[ghazi52]

Pakistan records $3.8bn in remittances for March 2026​

• During 9MFY26, remittances clock in at $30.3bn

BR Web Desk
April 8, 2026

The inflow of overseas workers’ remittances into Pakistan stood at $3.8 billion in March 2026, the State Bank of Pakistan (SBP) data showed on Wednesday.

Remittances increased by 16.5% on month-on-month basis and registered a decline of 5.5% on year-on-year basis.

Cumulatively, workers’ remittances increased by 8.2% to $30.3 billion during Jul-Mar FY26, compared to $28 billion received during the same period last year.



Remittances play a significant role in supporting the country’s external account, stimulating Pakistan’s economic activity, and supplementing the disposable incomes of remittance-dependent households.

Meanwhile, the government promotes remittances through incentives and formal channels to sustain steady growth and ensure their role in economic stability.

 

[ghazi52]

Breakdown of remittances

Overseas Pakistanis in Saudi Arabia remitted the largest amount in March 2026, sending $918.4 million. The amount was up 34% compared to the $685.51 million sent by the expatriates in February 2026.

Inflows from the United Arab Emirates rose by 18% on a montly basis, from $696.22 million in February to $823.67 million in March.

Remittances from the UK amounted to $587.27 million during March 2026, up by 10% compared to $532.11 million in February.

Overseas Pakistanis in the US sent $359.34 million in March, a monthly increase of 12% from $319.45 the last month.

Meanwhile, remittances from European Union (EU) countries clocked in at $413.78 million in March, recording a significant increase of 15% on a monthly basis from $395.47 million in February.