Pakistan-Remittances grow to $14.6bn in nine months

[N.Siddiqui]

KARACHI: The country received $14.6 billion remittances during the first nine months of this fiscal year, registering a 3.5 per cent year-on-year growth.

The month of March proved vital for the economy as some important macro indicators appeared positive supporting economic growth.

The State Bank of Pakistan (SBP) reported on Tuesday that remittances grew 22.4pc to $1.77bn in March over February. This was coupled with a growth of around 24pc in exports the same month along with a relatively lax rate of increase of imports at just 5pc.

The country’s capacity to keep its foreign exchange reserves has been declining as stated by an official report that the current reserves can pay for 2.5 months of imports against the minimum requirement of three months. It indicates that the risk attached with the economy is higher, making it difficult for the government to raise funds from the international markets.

Despite the loss of jobs by thousands of Pakistanis in Saudi Arabia, the kingdom still accounted for the highest amount at $3.69bn in the first nine months of 2017-18. However, the remittances from the kingdom declined by 9pc during July-March period of 2017-18 compared to the same period of last year.

From the United Arab Emirates, the inflows rose 3.8pc to $3.264bn during the period under review making it the second biggest source for remittances.

Notwithstanding the worsening of relations remittances from the United States jumped 12pc to $1.948bn at the end of third quarter of 2017-18.

The remittances from the United Kingdom surged by 22.4pc for a total inflow of $2.03bn during the nine-month period.

On the other hand, remittances from Gulf Cooperation Council countries witnessed a drop of 3.4pc in the July-February period from the corresponding period of last year. The total inflow stood at $1.648bn.

The highest growth was noted in the remittances from European Union countries but the size was still much lesser than the US and UK. The remittances from EU soared by 44pc to $479m.

Published in Dawn, April 11th, 2018


https://www.dawn.com/news/1400920/remittances-grow-to-146bn-in-nine-months

 

[war&peace]

Well still we the overseas Pakistanis are deprived by govt of any support and not even the right to vote and also our compatriots are jealous and at the same time want to exploit us and "Do More".
But they beg to IMF, World Bank for a few hundred million loan with interest on humiliating terms and compromise the sovereignty. I think that's the nature's way of justice but the dumb won't understand.

 

[N.Siddiqui]

Well still we the overseas Pakistanis are deprived by govt of any support and not even the right to vote and also our compatriots are jealous and at the same time want to exploit us and "Do More" .

This overseas vote count case is, I think still pending with the election commission, dilly dallying it. PTI has filed a case in SC as well.

At the same time overseas Pakistanis can keep dual nationality at their prerogative, Indians can't, must be mulling to grant it too.

https://www.dawn.com/news/1382780

 

[El Sidd]

This overseas vote count case is, I think still pending with the election commission, dilly dallying it. PTI has filed a case in SC as well.
At the same time overseas Pakistanis can keep dual nationality as their prerogative, Indians can't, must be mulling to grant it too.

https://www.dawn.com/news/1382780

I am against this.

 

[N.Siddiqui]

I am against this.

Against overseas vote
...or dual nationality
or both??

 

[El Sidd]

Against overseas vote
...or dual nationality
or both??

both actually...

 

[N.Siddiqui]

both actually...

I am for it with dual nationality...this is actually the reason.

 

[El Sidd]

I am for it with dual nationality...this is actually the reason.

we can agree to disagree. no harm in that.
lets see what the filmi dialogue mafia comes up with

 

[N.Siddiqui]

we can agree to disagree. no harm in that.
lets see what the filmi dialogue mafia comes up with

Any reason(s) for disagreeing with it...what are the pros and cons.

 

[Indus Pakistan]

I am against this.

But your okay with

The country received $14.6 billion remittances during the first nine months of this fiscal year, registering a 3.5 per cent year-on-year growth.

https://tribune.com.pk/story/1554357/2-remittances-uk-us-jump-october/

 

[Godman]

This was coupled with a growth of around 24pc in exports the same month along with a relatively lax rate of increase of imports at just 5pc.

It appears Pak economy is improving and pretty fast.

 

[war&peace]

Any reason(s) for disagreeing with it...what are the pros and cons.

You know can't argue with a piece of shit ...because it is a piece of shit ...

 

[El Sidd]

Any reason(s) for disagreeing with it...what are the pros and cons.

You can find pros and cons yourself.

For Me. Its simple. You dont live here. You dont get a say how those who live there should live.

But your okay with




https://tribune.com.pk/story/1554357/2-remittances-uk-us-jump-october/

If the money they sent was marked: to the state of pakistan i apologies. But its family and business.

Moreover the money that goes out is far greater than what comes in.

 

[Indus Pakistan]

But its family and business.

That money goes to Pakistan. It contributes to Pakistani economy. PIA, airports, taxis, hotels are used. Families build houses, invest in agriculture etc etc etc. All that economic activity generates jobs and taxes etc etc

Moreover the money that goes out is far greater than what comes in.

Not our fault. We ex-pats send money to Pakistan. The pats living in Pakistan send money out like NS, Zardari and rest of the elite. You need to sort them out inside Pakistan.

 

[El Sidd]

That money goes to Pakistan. It contributes to Pakistani economy. PIA, airports, taxis, hotels are used. Families build houses, invest in agriculture etc etc etc. All that economic activity generates jobs and taxes etc etc


Not our fault. We ex-pats send money to Pakistan. The pats living in Pakistan send money out like NS, Zardari and rest of the elite. You need to sort them out inside Pakistan.

Ok

It contributes to Pakistani economy. PIA, airports, taxis, hotels are used. Families build houses, invest in agriculture etc etc etc. All that economic activity generates jobs and taxes etc etc

We are revamping the tax system just For this.

You wanna vote. Come Live with us

You know can't argue with a piece of shit ...because it is a piece of shit ...

You should mind your language If this was directed at Me.

Thanks