Reason why remittance not coming in pakistan as before.

[Goenitz]

good luck to them. with the FATF and international banking system keeping a close eye on all these transactions. these people risk finding themselves on the wrong side of the law in overseas and the authorities wont buy the political grief at Pakistan to be a valid reason for that unlawful activity.

Even a bird flock disperses over a slight noise/threat. Similarly, the investors leave in groups if there is uncertainty in the country. Hence, less FDI and remittance for (like property/shops) small-scale businesses.
The main remittances are sent back to families for monthly expenditures. (300-500£). When there is a difference of 25Rs per £ or $, why not then send it through Hundi.
Lastly, people are angry at the PDM.

 

[Irfan Baloch]

I am an overseas Pakistani, and yes I am not Investigating in Pakistan because I have no confidence in the stability of the country because of the corrupt imported government.

such a shame.

 

[TheDarkKnight]

good luck to them. with the FATF and international banking system keeping a close eye on all these transactions. these people risk finding themselves on the wrong side of the law in overseas and the authorities wont buy the political grief at Pakistan to be a valid reason for that unlawful activity.

Well if Ishaq Dar and NS never got into trouble in west then why would ordinary people? FATF is mainly concerned about terror financing etc.

 

[tman786]

My family is in the process of selling 3 houses and moving the money back to UK.

Have also stopped remittances also.

Only funds to be sent to PTI campaign funding or charity.

Last year, I was considering investing £150k in real estate sector and moving out to Pakistan.

Thank god I didn't!

 

[Irfan Baloch]

Hundi.
Lastly, people are angry at the PDM.

thats a shame because they are punishing their families for the PTI dismissal.

Well if Ishaq Dar and NS never got into trouble in west then why would ordinary people? FATF is mainly concerned about terror financing etc.

you got a point there. why not try it and let us know?

 

[TheDarkKnight]

thats a shame because they are punishing their families for the PTI dismissal.


you got a point there. why not try it and let us know?

I wont not only due to potential legal issues but moral as well. My point is if there are channels created and used by elites of Pakistan, then other people can and will use it too. The drop in remittances shows people are using non banking means, and not all of them may be illegal (such as carrying cash in pocket, and getting a better rate in market than the one provided by Ishaq Dar.)

thats a shame because they are punishing their families for the PTI dismissal.

Lets not oversimplify and find an excuse for the colossal failure we are witnessing. No one gives a damn about politics when it comes to sustaining families and your hard earned wealth. To think Pakistanis are just going to let their grand ma starve because IK was ousted is childish. The issue is simply economical and financial performance of PDM + Establishment.
Let me make it easy: If I get 225 for one channel and 260-70 through another channel, which one will I choose? If bind rantings of a country are are junk and its currency will continue to devalue, would I like to keep my wealth there for long? These are the questions that matter, not IK vs NS etc

 

[TigerOfMysore]

We were in an early stage of discussions with an investment group considering a $200MM investment (over 4 years) into Pakistan. What's more important was the technical capabilities for the nation it would have helped build. That discussion literally died over night. Additionally Pakistani tech companies are in a major bind. They are likely and many are already moving people and capital to other regional countries. It is sad to see what the military establishment (a small part of it) has done to the nation. Literally unravelled it overnight.

 

[PakFactor]

We were in an early stage of discussions with an investment group considering a $200MM investment (over 4 years) into Pakistan. What's more important was the technical capabilities for the nation it would have helped build. That discussion literally died over night. Additionally Pakistani tech companies are in a major bind. They are likely and many are already moving people and capital to other regional countries. It is sad to see what the military establishment (a small part of it) has done to the nation. Literally unravelled it overnight.

If you don't mind, was the lead organized of the investment name ending in Raja by chance? He's out of Texas. He recently purchased a bank in Sindh.

 

[TheDarkKnight]

We were in an early stage of discussions with an investment group considering a $200MM investment (over 4 years) into Pakistan. What's more important was the technical capabilities for the nation it would have helped build. That discussion literally died over night. Additionally Pakistani tech companies are in a major bind. They are likely and many are already moving people and capital to other regional countries. It is sad to see what the military establishment (a small part of it) has done to the nation. Literally unravelled it overnight.

Yes there is a feeling of disgust and second class citizen feeling among most educated folks. I was never a serious investor, but always had a small plan in the mind to somehow open a small tech venture in Pakistan etc, but all that is gone and would not even think of venturing to a country whose politics and rule of law is so openly perverted now. If our status is that of second class, then why not just stay in other countries quietly and preserve your iman and wealth.

 

[TigerOfMysore]

If you don't mind, was the lead organized of the investment name ending in Raja by chance? He's out of Texas. He recently purchased a bank in Sindh.

No it wasn't. This was another group led by US based PK Expats (all under NDA), with legit institutional investment and capability development. Died instantly with these idiocies in the last few months. Most likely will shift to other geos.
This was aligned with major Public companies - who are gun shy to begin with, but will not touch us with a 10 foot pole now. The fact that there were even legitimate discussions at looking at PK as a core geo was an accomplishment in itself. Imagine the scar tissue for those PK Expats. If we think they got over this without having had their credibility questioned, we are mistaken. Now they'll think twice before sticking their necks out.

 

[jupiter2007]

the economic downturn across the globe and the time of the year has had its impact. this is not due to the world reacting to PTI not being in the federal government. I never had that delusion of grandeur for the party I voted for thinking it was going to turn the things for us. I dont know why my former friends still live in this fairyland where everything orbits around our captain.

thanks to General Bajwa the PTI formed the government by a hairline majority and seeing the composition of members within PTI and its allies I had mentally put a count down timer when this thing was going to crash and who was going to do it. I was expecting it in Jan 2021 but it lingered on few more months. things are getting worse for Pakistanis abroad or in the country so the downturn of remittances will continue sadly.
but PTI has every right to blame it on PDM, well thats what PDM parties were doing it while they were waiting outside GHQ to get their turn.

I have said it for last 20 years that Establishment will never allow anyone individual or political party get too strong.
Establishment want to hold all the cards and they will do whatever it takes, Including political engineering to keep political parties weak. Now they want to make sure PTI doesn’t get majority in the next election. They may even go to extreme length to make cases against IK and hang him just like Zulfiqar Ali Bhutto.

 

[GriffinsRule]

People will still send money to family members to pay for essentials, but money people were sending for investment has stopped. Who builds a factory when electricity is in short supply? Businesses aren't able to export their goods on time, who buys plots of land without knowing the have any protection? See the example below.




Lot of people from AJK/Potwari region who are in the UK consider Gwadar an attractive investment, but people don't invest even in plots because we don't know anyone there. PTI govt created a sense of confidence/accountability - even if it was on paper, which helped investors. Under the current govt people wouldn't dare.

Keep your money in UK and the US. As the rates hikes come up, it will put pressure on the property prices. Buy it this summer or end of the year instead, even if at a higher rate as you can refinance into an ARM later always. No point putting money in property in Pakistan where land mafia, kabza groups and general lawlessness and crime abounds.

 

[Imran Khan]

good luck to them. with the FATF and international banking system keeping a close eye on all these transactions. these people risk finding themselves on the wrong side of the law in overseas and the authorities wont buy the political grief at Pakistan to be a valid reason for that unlawful activity.

آپکی بات بجا ہے پر کیا آپکو نہین لگتا کہ امپورٹڈ گورمنٹ کو پیسے دینا انکے جرائم میں شریک ہونا ہے ؟ یہ جو لوگوں کو ننگا کر رہے ہیں مار رہے ہیں اٹھا کر لے جا رہےہیں۔ اس سب کام کے لیے ریسورسز کہاں سے آ رہے ہیں ؟ جس کالی ویگو سے آئی ایس آئی والے جا کر بے گناہوں کو اٹھا رہے ہیں اسکا ڈیزل پٹرول کہاں سے آتا ہے ؟ یہ سیف ہاؤس کیس چلتے ہیں ؟ کہاں سے انکو تنخؤاہیں ہتھیار دیے جاتے ہیں ؟رانے کی بدمعاشی کیسے چل رہی ہے ؟ یہ ڈڈو چارجر اور بکری کے منہ والی کو پیسے کہاں سے دیے جا رہے ہیں ۔ یہ بلو کے دورے کون بھر رہا۔ یہ وزیروں مشیروں کی فوج کے خرچے کون اٹھا رہا ہے ؟ ٹیکس اور ریمیٹینسز دینا شریک جرم ہونا ہے

اب ہنڈی نے بھی ترقی کر لی ہے وہ ٹرانسفر کرا کے دکھاتے ہیں سکرین شاٹ اور پھر پیسے دیے جاتے ہیں ۔ اسی طرح انہوں نے بھبی پیسا پاکستان بھجینا نہیں ہوتا وہ اسی ملک میں کھپا رہے ہیں ۔ فکر کی کوئی بات نہیں ایف اے ٹی ایف کی سوچ سے آگے سوچتے ہیں پاکستانی بنگالی انڈین ۔

 

[Dalit]

One thing is for sure. The expats don't have any confidence in the current setup.

 

[Imran Khan]

One thing is for sure. The expats don't have any confidence in the current setup.

very soon everyone whom have anything in pakistan will loss 20% of value . dollar will go to 260 once dar will face IMF

thats a shame because they are punishing their families for the PTI dismissal.


you got a point there. why not try it and let us know?

آپ کے لیے جو بات سزا ہے وہ شاید ہمارے لیے مجبوری یا قربانی ہو