Finance Minister Muhammad Aurangzeb said the ongoing Middle East war has not adversely affected Pakistan’s remittances so far, despite concerns over the economic fallout from the US-Israeli war on Iran.
Speaking on the floor of the National Assembly, the minister said that while concerns around remittances were valid, there has been no impact as of yet, even though roughly 40 to 50 percent of Pakistan’s remittances come from GCC countries.
He added that the government is closely reviewing the elasticity of remittance flows and assessing the possible impact on the balance of payments and current account.
Aurangzeb, however, acknowledged that the conflict has increased pressure elsewhere, noting that the country’s oil and gas import bill, trade costs, insurance charges, and vessel availability have all been affected.
The minister said the government is holding daily meetings to monitor developments and study the steps being taken by other countries in South Asia and Southeast Asia to manage the crisis.
He also reiterated that the government had earlier provided a blanket fuel subsidy of Rs. 129 billion and has now moved toward targeted subsidies for bikers, public transport, and small scale farmers, with disbursements already underway.
This keeps the story tightly focused on the remittance angle while preserving the economic context.