PM hails rising remittances and PSX boost
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday hailed a sharp rise in remittances and record gains in the country's stock market, describing them as signs of growing investor and public confidence in the government's economic policies.
In a statement, the prime minister expressed satisfaction over a 13.7 percent increase in remittances for May 2025, compared to the same month last year. Pakistan received $3.7 billion in remittances during the month, contributing to a total of $34.9 billion for the current fiscal year – up 28.8 per cent from the previous year.
'The increase in remittances is evidence of the growing confidence of overseas Pakistanis in the government's economic policies,' he added.
Sharif credited the government's economic strategy and the newly unveiled 'people-friendly' federal budget for 2025-26 as signs of a brighter future.
He emphasised that the budget, presented a day earlier, introduced no new tax burden on the general public and included pay raises and tax cuts designed to ease pressure on the salaried class.
Sharif also celebrated a record high in the Pakistan Stock Exchange, which surged to 124,000 points – a milestone he said reflected growing investor confidence.
'The journey to national economic progress has begun,' he remarked. 'The people of Pakistan have made immense sacrifices. Now, we all must work together to improve the life of the common man.'
He paid tribute to his economic team, crediting them for reducing inflation, increasing foreign exchange reserves, boosting exports, and helping Pakistan avoid default.
'This historic economic turnaround, achieved through hard work and prioritising the national interest, will be remembered in history,' he said.
Separately, a delegation from the Pakistan Muslim League-Quaid (PML-Q) met with the prime minister to express full support for his initiatives aimed at economic development and public welfare.
The delegation, led by Minister for Overseas Pakistanis Chaudhry Salik Hussain, praised the government for presenting what they called a balanced and forward-looking federal budget.
They also commended the prime minister for his leadership during recent tensions with India and his efforts to raise Pakistan's profile on the global stage. Local development issues relating to their constituencies were also discussed during the meeting.
Copyright Business Recorder, 2025
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