ISLAMABAD: The government needs to channelise the best use of the remittance flows to Pakistan which in 2024-25 reached to historic level of USD38.3 billion with an unprecedented growth of 26.6 percent and became almost 8 percent of Pakistan’s GDP.
In Pakistan millions of families are totally dependent on remittances as that single transfer for enable them paying of school fees, arrangement of medicine, and food secured, said Chief Executive Officer (CEO) of ACE Money transfer Rashid Ashraf on the occasion of ACE’s integration with Easypaisa and JazzCash aimed at expands digital access across the country.
Remittances are playing a key role in stabilising economy and potentially can grow further, the human connection underpins one of Pakistan’s greatest economic lifelines, said Ashraf.
YoY: FY25 remittances soar 27% to $38.3bn
Ashraf said Pakistan was one of the world’s largest recipients of remittances, with inflows reaching an unprecedented $38.3 billion in the fiscal year 2024-25 reflecting a significant 26.6% increase from the previous year. These remittances are playing a key role in supporting millions of household incomes, and fuelling domestic consumption. In March alone, overseas Pakistanis sent back USD 4.1 billion, the highest ever in a single month. This scale makes remittances a more reliable source of foreign exchange than even exports or foreign aid.
He said that for decades, the remittance landscape in Pakistan relied heavily on traditional channels that were often slow, costly, and inaccessible to rural communities. That’s changing as digital senders such as TapTap Send and Remitly offer faster delivery, clearer fees, and app-first convenience, reflecting migrant demand for lower costs and greater certainty. The impact of remittances stretches beyond households. They fuel local businesses, support SMEs, and encourage entrepreneurship, Ashraf added.
Amid this crowded space, ACE Money Transfer has established itself as one of the most trusted digital-first remittance providers for Pakistan’s diaspora. Customers onboard and transfer through an international platform with upfront FX and fees, real-time status updates, and rapid bank credits where available, while deep partner networks provide last-mile payout coverage. Established in Bolton in 2002, ACE has expanded from a single shop to a global service for overseas Pakistanis across the UK, Europe, Australia, and North America, supporting timely, affordable transfers to both urban and rural recipients.
Ashraf said, “Our customers typically send money to support their families’ everyday needs, from household expenses to education and healthcare. Over half of our transfers now arrive directly in bank accounts, improving security and convenience even in remote areas.”
ACE facilitates over six million transactions annually worldwide, including more than 2.5 million transfers into Pakistan alone. Its network spans 375,000+ payout locations globally and 13,763 points across Pakistan, ensuring accessibility even where banking infrastructure is limited.
Unlike older cash-heavy models, ACE emphasizes transparency and trust. He added, “Our commitment is to provide fast, reliable, and secure money transfer services that give peace of mind to senders and recipients alike. By enhancing financial access and affordability, we help strengthen the economic stability of millions of households and deepen the vital bond between diaspora communities and their families back home.”
Copyright Business Recorder, 2025
