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Tag Archives: remittances

Attracting remittances – Trend to be continued

  According to World Bank, Pakistan becomes the seventh largest recipient of workers remittances in 2013, with net inflows of about $15 billion. In the first nine months (July-March) of the current fiscal year (FY) under the leadership of Prime Minister Nawaz Sharif government, it has received about $11.6 billion in remittances, up 12 percent from $10.354 billion in the same period of last year. The inflows from all the …

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Migrant remittances hold the key to Pakistan’s economic balance and sustainability

  The economy and foreign exchange reserves of Pakistan like most developing countries across the world rely in part on migration and workers’ remittances. To put things in perspective, the $15.83 billion1 that overseas Pakistani workers (Pakistani Diaspora) sent back home in the country’s fiscal year 2014 from July 01, 2013 to June 30, 2014 contributed to the country’s GDP. An IMF research paper stated that workers’ remittances contributed 4% …

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Global remittances business

  Over the years increase in remittances received in Pakistan has become a talking point. The successive governments take credit of this increase but when compared with other countries, Pakistan’s share look miniscule. While it is true that Pakistani’s are hard working, the negative image of the country often becomes the biggest hurdle. Added to this is the role being played by agents operating in Pakistan, taking the people on …

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