26
KARACHI: Overseas Pakistani workers remitted $12.9 billion in the first 10 months (July-April) of this fiscal year, a growth of 11.45 per cent compared with $11.57bn received during the same period of last year.
The State Bank of Pakistan on Monday said the inflow of remittances in the 10-month period from Saudi Arabia, US, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and the European Union (EU) amounted to $3.8bn, $2.52bn, $2.02bn, $1.8bn, $1.52bn and $355.31 million respectively, compared with $3.37bn, $2.3bn, $1.82bn, $1.6bn, $1.3bn and $297.69m.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the period were $857.31m against $825.8m a year earlier.
In April this year, the inflow of remittances from Saudi Arabia, UAE, US, UK, GCC countries and the 28-nation EU amounted to $415.09m, $233.97m, $206.15m, $166.07m, $169.67m and $36.37m respectively compared with $392.28m, $226.07m, $183.19m, $176.14m, $135.81m and $28.65m in April 2013.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the previous month amounted to $84.51m.
Read more
On DawnNews
Comments (26) Closed
May 13, 2014 11:45am
Government of Pakistan!....please treat us well...we can do much better than this....we love our country of origin....PAKISTAN ZINDABAD!!!
Recommend
0
May 13, 2014 11:47am
We remit foreign exchange but we cannot vote!
Recommend
0
May 13, 2014 11:59am
Thank you Overseas Pakistanis.
Recommend
0
May 13, 2014 12:03pm
and still they cannot vote. In fact political parties want Dual Nationals as MNA or MPA for their vested interests. But those who are running Govt exchequer are not entitled to Vote
Recommend
0
May 13, 2014 12:24pm
Well done my countrymen. Proud of u all.
Recommend
0
May 13, 2014 12:28pm
Dear Overseas Pakistanis,
Remittances are a lifeline to Pakistan. Thank you very much for sending them. Keep 'em coming and keep empowering your country!
Recommend
0
May 13, 2014 12:49pm
@Iqbal - No mention bro. We are sure every Pakistani does his/her bit for empowering Pakistan. The only worry we come across is that the income we get with a clear loss of dignity (once you are outside your country you are a second rated citizen) does not earn us a surety for our old age future back in our homeland. A collective thinking on this aspect is required.
Also this remittance income should not be depended upon as a long term solution for the country because it is not one. Pakistan must learn to live within its means.
Recommend
0
May 13, 2014 01:00pm
I am an expat too but, this does not include me, since I have decided not to finance any corrupt regime be it PPP, PML-N or any other.
Recommend
0
May 13, 2014 01:18pm
I am a Pakistani-Canadian, & I want to thank all those hardworking Overseas Pakistanis, especially from the Middle East, who have been sending their hard earned cash to give a lifeline to the Pakistani government. I don't think any Pakistani government has done enough to make sure our embassies are doing their part to ensure the well-being of overseas Pakistanis and also that Pakistani Customs & Immigration officials in all the Pakistani airports, treat these overseas Pakistanis with some dignity & respect when they return home to visit their families & that they are not hassled by those corrupt Pakistani officials just to get bribes from them. Thank you all overseas Pakistani again for this great service to our homeland.
Recommend
0
May 13, 2014 01:22pm
Until or unless the mentality of giving votes based on "creation of just road in an area" not change the right MNA's/MPA's shall not been selected. PMLN or other political parties knew that they can get vote by just constructing a road only. We feel embarrassed when we see local newspaper (Outside Pakistan) that Bomb blasts, corruption and now newly polio etc while comparing it with neighboring countries (India, Sri- lanka, Bangladesh and now Nepal also) news are better then what happening in Pakistan. I Love my country and remain loyal until i die Insha-Allah no matter what happened but plz promote good things of your own country along criticizing bad things or intentions. PMLN not doing anything to promote Pakistan well overseas...... Dont have any hope from PMLN, PPP (most corrupted party), JUI or any other party except PTI (Till Imran Khan alive)..........
Recommend
0
May 13, 2014 01:40pm
@Adnan
You (and I) remit it for the benefit of the people we send it for, we aren't gifting it to the government.
Recommend
0
May 13, 2014 01:41pm
@Imran
You have not been gifting the money to the government and if you had been remitting money previously and will not be utilising the proper channels now, then you will be going through illegal alternative methods such as hawala and hundi.
What will it be ?
Recommend
0
May 13, 2014 01:44pm
Our overseas workers are an asset, the gov't should realize the importance of Overseas Pakistani Workers. They want to do more because they deeply love Pakistan & are capable of doing more. The gov't should come up with some transparent & concrete incentive plans to boost the confidence of the OSPW. In the past we heard many things intended for OSPW but all evaporated. The neighbours through a well knit & honest plan have successfully tapped the overseas worker's wealth & expertise to boost national economy. After spending a considerable period of time many neighbouring overseas workers are returning back to their respective countries with their hard earned money & expertise. The gov't on its own has made up some good plans to receive & honour them & in turn the returning workers are investing their wealth & expertise to help grow national economy.
Recommend
0
May 13, 2014 01:47pm
@Imran People send money back home to finance their families or to purchase assets. No one send money with intention to feed corrupt politicians. I am also expatriate but must point out another aspect that due to huge investment of expats in plots, the prices of property have gone beyond the means of ordinary Pakistanis. We expat tend to over spend on different social occasions like marriages thanks to better spending power and bit of desire to show off affluence which is not good for society. I personally owe everything i have to my beloved motherland where i got education almost free of cost and then practical experience which enabled me to find good job abroad.
Recommend
0
May 13, 2014 01:59pm
The numbers establish the fallacy of the argument that expats or dual nationals should have reserved seats. 65% of remittances are from GCC and 32% from Saudi Arabia. There are no dual nationals residing in these countries. The remittances are also mainly from blue collar workers. Whereas people demanding voting rights and special NA seats are not blue collar workers. If the government incentivises white collar professionals it could easily generate 50 to a 100 billion in a year. The incentive is not high interest rates on dollar deposits but broad policies ranging from real estate schemes in Islamabad etc., reduced customs duties, privileged immigration for overseas Pakistanis bringing in $250000+ etc.
Recommend
0
May 13, 2014 03:04pm
@Imran If your love & vision for Pakistan is limited to few corrupt political parties then better reprogram it. Pakistan belongs to all of us, the Pakistanis we should try to get rid of the corrupts & not starve our dear motherland. The least we can do is to support all those who in our opinion are sincerely trying to get rid of the corrupt parties & individuals & make Pakistan a clean country. Corruptions cannot be eradicated entirely but it can be controlled to a level where its venom loses its killing properties. Help Pakistan.
Recommend
0
May 13, 2014 03:17pm
I'm a Pakistani-American. I would love to send more money as well export cars and other goods but the last time I tried they gave me hard time at the Karachi seaport. Pakistan need to change their tax policies since if I bought a car in the USA, and if I have to export it to Pakistan. I already have paid taxes in the USA. Instead I should be only taxed if I sold the car in Pakistan, but for personal use, why am I paying double the price back to Pakistan. And I'm sure the money doesn't fall in the right hands. Also when I went to Pakistan, I was robbed at the gun point, by my own people. I lost over $20,000 cash. Seriously, I never going to visit back unless I'm given proper protection.
Recommend
0
May 13, 2014 03:47pm
What about the remittances that gets into pakistan illegally - those people dont believe in banks and this parallel route is only what they know and trust - these funds must be stopped - then it will help pakistan's prosperity in a huge way
Recommend
0
May 13, 2014 04:42pm
These fancy numbers are not a good sign. If inflation keeps on rising like this , poor expats will have to send all their salaries home and it would still not suffice. govt should take action to control the Prevailing inflation.
Recommend
0
May 13, 2014 06:00pm
Germany's industries were destroyed during WW2 and Germans had to go abroad for work leaving behind their families. A very capable Chancellor Adenaur used their remittances to repair and build new industries & infrastructure. Within few years , Germans started returning home as they could find jobs in their own country.
Our Govt. should stop paying external debts & squandering away on luxury from remittances from NRPs. They should build small scale industries in every province so that people can get back to their families & find jobs. There should be Minister / Advisors from NRPs from ME, Europe & N. America
to advise / monitor the development projects.
But the problem is That Our rulers are either incompetent or too busy in projects which will give them
kickbacks in their foreign accounts.
Recommend
0
May 13, 2014 06:16pm
Even though everyone does that much but what Pakistani Govt is doing. I needed a NICOP card and was given really tough time by Pakistani embassy in NY. its just a shame..
Recommend
0
May 14, 2014 12:22am
This is so sad and they should be ashamed how they treat others and expect remittance to be all time high. Very sad indeed.
Recommend
0
May 14, 2014 11:47am
@amir khan i am sure you do not understand about foreign reserves.
Recommend
0
May 14, 2014 12:25pm
@Ahmed. Who pick them to rule on us ? WE.... and if not we then our own nationals plus rigging.... Who allow them to rig ? again WE for the sake of some benefits or bribe...... No one accept new guys (PTI) other then pathans. Pathan's make a valuable choice by choosing PTI.. to be honest PTI performing well comparing other provinces. Whenever i visit embassy here i see someone fighting with officials because no proper management available to create process and to design proper flow of work. Bottom line: I like Hassan Nisar comments about system " Puray system koh tehzab seh ghusal dainay ke zarorat hai"
Recommend
0
May 14, 2014 12:33pm
Please also open up investment opportunties like 7.25% Bonds, preferntial rights to buy stocks of soon to be privatized Govt owned companies to overseas Pakistanis and then you will see that you would not have to go begging for aid. Through our sheer hardwork we and our children have accumalated enough to invest in our own country if an opportunity to do so is provided.
Recommend
0
May 15, 2014 02:35pm
Pakistan we love you, keep on progressing we will backup you till the last blood but we need a good policies and support, yes we can do much better up to $50 billion.
Recommend
0
