Overseas Pakistanis Remittances rise to $12bn in 11 months

[Nothing]

Let me get that straight-

The majority of remittance comes only from Gulf Region-
The Pakistanis in Europe or West contribute the minimum-

In USA bcos ppl try to settle their family first.. I know many south Asian family is buying home and other properties right now .bcos it is cheap and we have money due to our habit of save maximum ..
Again in gulf countries most of blue color worker stays alone and their family is in their mother country .. where in USA most of them are white color workers .. highly educated and with their family who don't have any plan to go back .. and this is right time to invest here.. so they send less money back home.. and right now due to rupee depreciation it is good to send money

 

[Meengla]

@Nothing,
Correct on everything.
People in the Middle East are there to make money and support family back 'home'. While in north America they are much more assimilated in the local economies and invest locally much more. I should know: Owning two properties here, one of them just got paid off. If I was not here for long term then I would probably have sent all that 'disposable income' to Pakistan.

And of course this is the most welcome news. It is also kind of eye opener to those Pakistanis--in another cursed Pakistani forum (this forum is great!) where members were predicting in 2008 that because Zardari is so 'corrupt' the remittance will not be sent. How wrong and idiotic. If anything, there is a steady increase of remittance in the current govt.

And, yes, the so-called US 'aid' to Pakistan is peanuts compared to this.

 

[Baby Leone]

@Nothing,
Correct on everything.
People in the Middle East are there to make money and support family back 'home'. While in north America they are much more assimilated in the local economies and invest locally much more. I should know: Owning two properties here, one of them just got paid off. If I was not here for long term then I would probably have sent all that 'disposable income' to Pakistan.

And of course this is the most welcome news. It is also kind of eye opener to those Pakistanis--in another cursed Pakistani forum (this forum is great!) where members were predicting in 2008 that because Zardari is so 'corrupt' the remittance will not be sent. How wrong and idiotic. If anything, there is a steady increase of remittance in the current govt.

And, yes, the so-called US 'aid' to Pakistan is peanuts compared to this.

this peanuts are nt even aid this is compensation for wht we bear due to there idiotic war on terror.

 

[ziaulislam]

more remittances come from gulf because people havnt settled there, they have gone for work..

 

[AyanRay]

Many people dont realise it, but remitances are one of the major driving force for inflation, as cash is comming in without any subsequent increase in production. Having said that if this money is used wisely for investment purpose rather than consumption, or imports it can prove to be a boon for the economy. But seeing the investment rate as a percentage of GDP of Pakistan, I dont think this amt is being used prudently, afterall remitances are abt 10% of Pakistan's GDP. which is huge.
btw higher remittances , specially at a time of global slowdown ( which indicates income of overseas Pakistanies arent increasing) means more and more Pakistanies are going out of Pakistan. Which infact is not a good news.