Pakistan Aims for $60 Billion Remittance Target by 2034 with New Incentives for Overseas Pakistanis

Pakistan has embarked on an ambitious journey to double its remittance inflows over the next decade, aiming to increase the current figure of $30 billion to $60 billion by 2034. For the ongoing financial year, the government has set a remittance target of $30.27 billion, with plans to increase this by over $3 billion annually.

To realize this goal, the government is rolling out a series of incentives for overseas Pakistanis. Key strategies include the deployment of 26 Community Welfare Attachés in Gulf countries, Europe, and the United States to assist with employment and business opportunities. Furthermore, the Special Investment Facilitation Council (SIFC) Forum will be mobilized to support remittance inflows, encouraging overseas Pakistanis to invest in technology zones with necessary facilities provided. As part of the incentive package, blue passports will be issued to these individuals.

In addition to these measures, Pakistan is collaborating with the European Union to enhance the skills of its workforce, with plans to open more than 50 new skill centers across the country.