Pakistan, July 10 -- The State Bank's announcement of a record $38.3 billion in overseas remittances for June has given Islamabad a rare moment of economic comfort. A 26.6% year-on-year surge is, on paper, precisely the kind of headline a government managing chronic external vulnerabilities wants.

Prime Minister Shehbaz Sharif's prompt commendation makes sense: it suggests his policy wins-a crackdown on hundi channels, incentives for formal flows, exchange rate realism-are paying off.

But once the confetti settles, the shine is bound to fade fast. A step away from the podium would make one realise how this record flow is yet another proof that Pakistan is still asking its absent citizens to shoulder what domestic policy won't.

Remittan...