Remittances have surged by 44% at the beginning of the current fiscal year, reaching $5.94 billion. This represents an increase of $1.81 billion from $4.12 billion recorded in July-August of the previous year.

The significant rise is attributed to the support of the Special Investment Facilitation Council (SIFC) and the government's crackdown on Hundi operations and dollar smuggling. These measures have contributed to a stable exchange rate and boosted foreign exchange reserves, driving the record increase in remittances.