Chairman of the National Business Group Pakistan, Mian Zahid Hussain, emphasized the crucial role of remittances from overseas Pakistanis in stabilizing the national economy, which remains stable even during global challenges. In a recent address, he highlighted how these financial inflows effectively wiped out the astonishing trade deficit of 28 billion dollars, demonstrating the success of current economic policies.
Mian Zahid Hussain, who also heads several other reputable business forums, revealed that Pakistan received remittances amounting to 3.7 billion dollars in May 2025 alone. These figures represent a 16% increase from the previous month and a 14% increase from May of the previous year, making it the second-highest monthly remittances in Pakistan’s history.
He further noted that the continuous increase in remittances, which was 34.9 billion dollars from July 2024 to May 2025, is crucial in transforming the current account deficit into a surplus. This change not only strengthens national income but also reduces financial pressure on households across Pakistan.
The business leader stressed the importance of formal remittance channels, which have gained trust through strict regulations against informal transfer systems like Hawala and Hundi. He attributed these measures, along with a stable exchange rate, to the increase in transparency and volume of remittances.
Nevertheless, Mian Zahid Hussain expressed concern over potential risks such as changing immigration policies and international tensions that could obstruct the flow of remittances. He appealed to the government to further strengthen the remittance system, including improving diplomatic and legal support for overseas Pakistanis and enhancing the formal banking structure.
He emphasized the need for strong government strategies to promote industrialization and increase exports to ensure long-term economic stability and job creation.