Overseas Pakistanis’ remittances exceed $2bn for fourth month in row: PM Khan

[Morpheus]

Overseas Pakistanis’ remittances exceed $2bn for fourth month in row: PM Khan
Web Desk On Oct 12, 2020


ISLAMABAD: Prime Minister (PM) Imran Khan has said despite the coronavirus pandemic, there is another good news for our economy, ARY News reported on Monday.

In a tweet, he said remittances from overseas Pakistanis rose to $2.3billion in the month of September this year, which is thirty-one percent higher than last September and nine percent higher than August this year.



PM Imran Khan said this marks the fourth consecutive month that remittances have remained above two billion dollars.

Remittances from overseas Pakistanis rose to $2,768 million in July this year, the highest ever level of remittances in a single month in Pakistan.

According to State Bank of Pakistan (SBP) report, the remittances showed an increase of $740mn (or 36.5pc) over last July and an increase of $302mn (or 12.2pc) over June 2020.

Overseas Pakistanis’ remittances exceed $2bn for fourth month in row: PM Khan

In a tweet, PM Khan said remittances from overseas Pakistanis rose to $2.3billion in the month of September this year, which is thirty-one percent higher than last September and nine percent higher than August this year.

arynews.tv

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[Protest_again]

Pakistani expats are the only saviors of Pakistan economy right now.

 

[N.Siddiqui]

Overseas Pakistanis’ remittances exceed $2bn for fourth month in row: PM Khan
Web Desk On Oct 12, 2020


ISLAMABAD: Prime Minister (PM) Imran Khan has said despite the coronavirus pandemic, there is another good news for our economy, ARY News reported on Monday.

In a tweet, he said remittances from overseas Pakistanis rose to $2.3billion in the month of September this year, which is thirty-one percent higher than last September and nine percent higher than August this year.



PM Imran Khan said this marks the fourth consecutive month that remittances have remained above two billion dollars.

Remittances from overseas Pakistanis rose to $2,768 million in July this year, the highest ever level of remittances in a single month in Pakistan.

According to State Bank of Pakistan (SBP) report, the remittances showed an increase of $740mn (or 36.5pc) over last July and an increase of $302mn (or 12.2pc) over June 2020.

Overseas Pakistanis’ remittances exceed $2bn for fourth month in row: PM Khan

In a tweet, PM Khan said remittances from overseas Pakistanis rose to $2.3billion in the month of September this year, which is thirty-one percent higher than last September and nine percent higher than August this year.

arynews.tv

+++++++

Roshan Pakistan digital account for overseas Pakistanis is showing the result...

And with travel and flights ban due to Covid-19, Hundi transactions have stopped or declined substantially, and Pak diaspora have to take the approved banking channels.

 

[khansaheeb]

Pakistani expats are the only saviors of Pakistan economy right now.

only until the Rupee is weak.

 

[Ali_Baba]

Hopefully Hundi transactions permanently stop, once overseas Expats see how easy and more importantly safe the official process is compared to the Hundi system.

I know, people who have been robbed of their money through the "hundi system"....

 

[TheSnakeEatingMarkhur]

Overseas Pakistanis’ remittances exceed $2bn for fourth month in row: PM Khan
Web Desk On Oct 12, 2020


ISLAMABAD: Prime Minister (PM) Imran Khan has said despite the coronavirus pandemic, there is another good news for our economy, ARY News reported on Monday.

In a tweet, he said remittances from overseas Pakistanis rose to $2.3billion in the month of September this year, which is thirty-one percent higher than last September and nine percent higher than August this year.



PM Imran Khan said this marks the fourth consecutive month that remittances have remained above two billion dollars.

Remittances from overseas Pakistanis rose to $2,768 million in July this year, the highest ever level of remittances in a single month in Pakistan.

According to State Bank of Pakistan (SBP) report, the remittances showed an increase of $740mn (or 36.5pc) over last July and an increase of $302mn (or 12.2pc) over June 2020.

Overseas Pakistanis’ remittances exceed $2bn for fourth month in row: PM Khan

In a tweet, PM Khan said remittances from overseas Pakistanis rose to $2.3billion in the month of September this year, which is thirty-one percent higher than last September and nine percent higher than August this year.

arynews.tv

+++++++

Mostly because of Roshan Digital Account people here are sending through it and also the money is counted for now...

Abhi kuch din pehle pese dal k aya hu... I'm thinking to create Roshan Digital account...

Roshan Pakistan digital account for overseas Pakistanis is showing the result...

And with travel and flights ban due to Covid-19, Hundi transactions have stopped or declined substantially, and Pak diaspora have to take the approved banking channels.

True.. But not just covid new laws because of FATF have also decreased Hundi

 

[IceCold]

Pakistani expats are the only saviors of Pakistan economy right now.

What is your problem with it? Are you suggesting that the shupa power on our east does not rely on remittances from Indian expats?

 

[KurtisBrian]

Won't be long until capital controls go into place and trade collapses. The shooting will begin not long after. Best to be with those look and think like yourself when that happens.
What should the unique do? Fight everyone.

 

[Protest_again]

What is your problem with it? Are you suggesting that the shupa power on our east does not rely on remittances from Indian expats?

No. It does not.

India

Forex Reserves - $545 billion
Exports - $550 billion (goods&services)
Remittances - $80 billion
FDI + FPI + VC - $100 billion
Tourism Forex - $25 billion

Compared this to Pakistan

Forex Reserves - $20 billion
Exports $25 billion (goods &services)
Remittance -$24 billion
FDI+FPI - < $4 billion
Tourism forex < $2 billion.

You can clearly see my point. We are not dependent on remittances as forex reserve source.

 

[Signalian]

Pakistani expats are the only saviors of Pakistan economy right now.

God works in mysterious ways. The country bound to collapse since 1947, comes back on steady path even with adverse weather and rocky tides.

 

[IceCold]

No. It does not.

India

Forex Reserves - $545 billion
Exports - 550 billion (goods&services)
Remittances - $80 billion
FDI + FPI + VC - $100 billion
Tourism Forex - $25 billion

Compared this to Pakistan

Forex Reserves - $20 billion
Exports $25 billion (goods &services)
Remittance -$24 billion
FDI+FPI - < $4 billion
Tourism forex < $2 billion.

You can clearly see my point. We are not dependent on remittances as forex reserve source.

I didnt said you are, that does not mean you dont get any. The amount you quoted above is 4 times that of Pakistan.

 

[xyxmt]

As I had said when this Corona started back in March, remittances will be higher than usual. historically whenever there are hard times in Pakistan, remittances are higher....its just common sense. Most people argued against it since economies are hit all over the world, but my thinking is that most ex-pats and especially the ones living in the western countries have access to bank credits easily and in times of hardship people dont shy away from taking a little from available credits if their loved ones are in need.

 

[KurtisBrian]

No. It does not.

India

Forex Reserves - $545 billion
Exports - 550 billion (goods&services)
Remittances - $80 billion
FDI + FPI + VC - $100 billion
Tourism Forex - $25 billion

Compared this to Pakistan

Forex Reserves - $20 billion
Exports $25 billion (goods &services)
Remittance -$24 billion
FDI+FPI - < $4 billion
Tourism forex < $2 billion.

You can clearly see my point. We are not dependent on remittances as forex reserve source.

Indians have remitted almost a trillion dollars in the past 20 years. If you are not dependent upon remittances then you are enemies looting your host nations.

 

[Protest_again]

I didnt said you are, that does not mean you dont get any. The amount you quoted above is 4 times that of Pakistan.

Remittances are not savior of Indian economy unlike Pakistan. They are a luxury.

Indians have remitted almost a trillion dollars in the past 20 years. If you are not dependent upon remittances then you are enemies looting your host nations.

Look up participatory notes. The money that goes out always comes back into India through mauritius route. Indians can be tax evaders but they are not traitors.

 

[Wikki019]

Its also a shame that our exports are almost equal to our remittances, we should focus on the economy on emergency bases and should make a concrete foundation instead of shortsighted steps. If you want to win in long term, the economy is everything.