THIS refers to the report ‘Remittances hit $10.6bn in July-October’ (Nov 15) related to the cumulative amount sent by overseas Pakistanis during the first four months of the ongoing fiscal. The government also maintains that remittances are up 12 per cent over the corresponding period last year and up 63pc over the first four months of the 2018 fiscal.

The current exchange rate fluctuation with regard to the United States dollar is unprecedented in the history of our country. There is hyperinflation in the country and price hike is unmatched by any and all standards.

Against this backdrop, it is obvious that a fair share of remittances by overseas Pakistanis is intended for their families to meet their local expenses. The spike in remittances owes that much share to this factor alone.

Let us be mindful of such statistics.

Sheikh Taimur Nawaz

Published in Dawn, November 30th, 2021



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