The impact of Buna-Raast connectivity

Pakistan stands as the sixth-largest recipient of global remittances, with a remittances-to-GDP ratio of over 7 per cent. This translates to approximately $30.3 billion, making remittances the country’s second-largest source of income, trailing only exports, which contribute about 9pc to GDP. Notably, Pakistan’s remittance-to-GDP ratio surpasses that of neighbouring countries like Bangladesh and India, where it stands at 5.3pc and 3.5pc, respectively. This substantial inflow is crucial in supporting Pakistan’s balance of payments and providing essential financial support to millions of households, playing a pivotal role in maintaining living standards and facilitating access to education and healthcare. As remittances consistently outpace other foreign investments, optimising this channel is essential to maintaining economic stability in the country.