Remittances down in May from last month and last year

[Ssan]

So looks like Dawn is trying to bury the news but remittances are down significantly this May from last month and indeed from last year. This govt is in trouble. They will not be able to keep remittances at same level as PTI.

May 2022:- $2.332bn
Compared to

April 2022:- $3.125bn
May 2021:- $2.506bn

They should be panicking but instead trying to put spin on it that oh it’s still above 2 bn$. What nonsense

Record $28.4bn remittances

Inflow shows an increase of 6.3pc over the same period last year; May's remittances much lower than April's inflow.

www.dawn.com

KARACHI: Pakistan received a record over $28 billion in remittances during the first 11 months of the outgoing fiscal year, showing an increase of 6.3 per cent over the same period last year.

However, the inflow in May was much lower than in April while it was even less than the remittances sent in May 2021. The overseas Pakistanis remitted $2.332bn in May compared to a record monthly figure of $3.125bn in the preceding month. The inflow in May 2021 was $2.506bn.

The State Bank of Pakistan (SBP) reported on Friday that the remittances during July-May FY22 were $28.4bn compared to $26.7bn in the same period of last year.

In terms of growth, remittances in May decreased by 25.4pc on a month-on-month basis and 6.9pc on a year-on-year basis, largely reflecting the usual seasonal post-Eid decline and associated long holiday, noted the central bank.

At $2.3bn in May, workers’ remittances have continued to remain above the $2bn mark since June 2020, said the SBP. Remittances in May were mainly sourced from Saudi Arabia ($542 million), the United Arab Emirates ($435m), the United Kingdom ($354m) and the United States of America ($233m).

The highest remittances of about $7.059 billion were received from Saudi Arabia during the July-May period. Inflows from the UK and US grew 8.5pc and 18.5pc to $4.025bn and $2.8bn, respectively.

 

[AZ1]

2022-2023 fiscal year, remittance will be down by $2,B to $4B and exports down tk $3 Billion

 

[_Sherdils_]

I hate when I now have to send money home for family maintenance. I already cancelled plans to open Roshan Digital account.

But I am never sending money for any investments anymore like property etc. Infact have put up my existing property on a flash sale to get out of my investments from this unstable country for good.

I know more dollars will flow out this way. But I am done with these 'mili naghmey' because the elite themselves invest abroad so why have we been investing in pakistan

 

[Catalystic]

If you’re going to open an RDA, open it in PKR instead of dollars.
Easier that way

Send only for family…..investment ka koi faida nahi jab ye chor sab kuch imf ko de deinge
Still too high and expensive properties here despite country being pretty much nearing default
Bas family maintenance kero. Baqi sab rehne do, do some charity

 

[pakman12]

So establishment really fucked up the country by putting PDM in charge. PDM trying to get $1B from IMF but have lost nearly that much in remittances in one month. What a joke.

 

[DocEinstein]

I hate when I now have to send money home for family maintenance. I already cancelled plans to open Roshan Digital account.

But I am never sending money for any investments anymore like property etc. Infact have put up my existing property on a flash sale to get out of my investments from this unstable country for good.

I know more dollars will flow out this way. But I am done with these 'mili naghmey' because the elite themselves invest abroad so why have we been investing in pakistan

I have a decent amount invested in Pakistan in form of properties. Will take a huge hit if I try to cash in back to $. Waiting is useless. Chor pissing the country down the drain. Having remorse now for investing in Pakistan.
Have been supporting Indus Hospital. Will use most money there for charity for poor people now IA.
Not sending a single $ to Pakistan anymore.

 

[fatman17]

So looks like Dawn is trying to bury the news but remittances are down significantly this May from last month and indeed from last year. This govt is in trouble. They will not be able to keep remittances at same level as PTI.

May 2022:- $2.332bn
Compared to

April 2022:- $3.125bn
May 2021:- $2.506bn

They should be panicking but instead trying to put spin on it that oh it’s still above 2 bn$. What nonsense

Record $28.4bn remittances

Inflow shows an increase of 6.3pc over the same period last year; May's remittances much lower than April's inflow.

www.dawn.com

KARACHI: Pakistan received a record over $28 billion in remittances during the first 11 months of the outgoing fiscal year, showing an increase of 6.3 per cent over the same period last year.

However, the inflow in May was much lower than in April while it was even less than the remittances sent in May 2021. The overseas Pakistanis remitted $2.332bn in May compared to a record monthly figure of $3.125bn in the preceding month. The inflow in May 2021 was $2.506bn.

The State Bank of Pakistan (SBP) reported on Friday that the remittances during July-May FY22 were $28.4bn compared to $26.7bn in the same period of last year.

In terms of growth, remittances in May decreased by 25.4pc on a month-on-month basis and 6.9pc on a year-on-year basis, largely reflecting the usual seasonal post-Eid decline and associated long holiday, noted the central bank.

At $2.3bn in May, workers’ remittances have continued to remain above the $2bn mark since June 2020, said the SBP. Remittances in May were mainly sourced from Saudi Arabia ($542 million), the United Arab Emirates ($435m), the United Kingdom ($354m) and the United States of America ($233m).

The highest remittances of about $7.059 billion were received from Saudi Arabia during the July-May period. Inflows from the UK and US grew 8.5pc and 18.5pc to $4.025bn and $2.8bn, respectively.

Expect further reduction in remittances in the near term

 

[American Pakistani]

Remits will drop further down. With IK gone and theives and traitors ruling the country along with the traitor bajwa, good luck with remittances. The salt on the wounds was when overseas voting rights were blown into smithereens.

 

[Hakikat ve Hikmet]

Yep, tighten the screw further on these traitor scums.....

 

[ziaulislam]

So looks like Dawn is trying to bury the news but remittances are down significantly this May from last month and indeed from last year. This govt is in trouble. They will not be able to keep remittances at same level as PTI.

May 2022:- $2.332bn
Compared to

April 2022:- $3.125bn
May 2021:- $2.506bn

They should be panicking but instead trying to put spin on it that oh it’s still above 2 bn$. What nonsense

Record $28.4bn remittances

Inflow shows an increase of 6.3pc over the same period last year; May's remittances much lower than April's inflow.

www.dawn.com

KARACHI: Pakistan received a record over $28 billion in remittances during the first 11 months of the outgoing fiscal year, showing an increase of 6.3 per cent over the same period last year.

However, the inflow in May was much lower than in April while it was even less than the remittances sent in May 2021. The overseas Pakistanis remitted $2.332bn in May compared to a record monthly figure of $3.125bn in the preceding month. The inflow in May 2021 was $2.506bn.

The State Bank of Pakistan (SBP) reported on Friday that the remittances during July-May FY22 were $28.4bn compared to $26.7bn in the same period of last year.

In terms of growth, remittances in May decreased by 25.4pc on a month-on-month basis and 6.9pc on a year-on-year basis, largely reflecting the usual seasonal post-Eid decline and associated long holiday, noted the central bank.

At $2.3bn in May, workers’ remittances have continued to remain above the $2bn mark since June 2020, said the SBP. Remittances in May were mainly sourced from Saudi Arabia ($542 million), the United Arab Emirates ($435m), the United Kingdom ($354m) and the United States of America ($233m).

The highest remittances of about $7.059 billion were received from Saudi Arabia during the July-May period. Inflows from the UK and US grew 8.5pc and 18.5pc to $4.025bn and $2.8bn, respectively.

This is surpring..
How and why are they going down?
Remittences were streamlined by PTI and none of the negative policies are in yet(e.g taxing free lancing etc)

I have a decent amount invested in Pakistan in form of properties. Will take a huge hit if I try to cash in back to $. Waiting is useless. Chor pissing the country down the drain. Having remorse now for investing in Pakistan.
Have been supporting Indus Hospital. Will use most money there for charity for poor people now IA.
Not sending a single $ to Pakistan anymore.

many of my friends never invested

Their resonaing was choors will always be back and IK wont last long

 

[fna]

kal pehli baar felt no happiness with pakistan winning vs wi, i have no family in pk. but there was this unspoken/not-understood bond with pk. these bastard bc generals by expelling a good leader, seem to have broken my bond with pk. just sad.

 

[Madni Bappa]

So looks like Dawn is trying to bury the news but remittances are down significantly this May from last month and indeed from last year. This govt is in trouble. They will not be able to keep remittances at same level as PTI.

May 2022:- $2.332bn
Compared to

April 2022:- $3.125bn
May 2021:- $2.506bn

They should be panicking but instead trying to put spin on it that oh it’s still above 2 bn$. What nonsense

Record $28.4bn remittances

Inflow shows an increase of 6.3pc over the same period last year; May's remittances much lower than April's inflow.

www.dawn.com

KARACHI: Pakistan received a record over $28 billion in remittances during the first 11 months of the outgoing fiscal year, showing an increase of 6.3 per cent over the same period last year.

However, the inflow in May was much lower than in April while it was even less than the remittances sent in May 2021. The overseas Pakistanis remitted $2.332bn in May compared to a record monthly figure of $3.125bn in the preceding month. The inflow in May 2021 was $2.506bn.

The State Bank of Pakistan (SBP) reported on Friday that the remittances during July-May FY22 were $28.4bn compared to $26.7bn in the same period of last year.

In terms of growth, remittances in May decreased by 25.4pc on a month-on-month basis and 6.9pc on a year-on-year basis, largely reflecting the usual seasonal post-Eid decline and associated long holiday, noted the central bank.

At $2.3bn in May, workers’ remittances have continued to remain above the $2bn mark since June 2020, said the SBP. Remittances in May were mainly sourced from Saudi Arabia ($542 million), the United Arab Emirates ($435m), the United Kingdom ($354m) and the United States of America ($233m).

The highest remittances of about $7.059 billion were received from Saudi Arabia during the July-May period. Inflows from the UK and US grew 8.5pc and 18.5pc to $4.025bn and $2.8bn, respectively.

It's cuz overseas Pakistanis pulled their capital out of the Roshan accounts

 

[Menace2Society]

Make it go to zero.

 

[_Sherdils_]

kal pehli baar felt no happiness with pakistan winning vs wi, i have no family in pk. but there was this unspoken/not-understood bond with pk. these bastard bc generals by expelling a good leader, seem to have broken my bond with pk. just sad.

This is the saddest part. I see Pakistani flag I feel nothing towards it no more. It doesn't represent my people to me. It feels like it represents an elite I am disconnected with. I know I won't be attending cricket games in stadiums here in the UK no more. Unless we take our country back from this elite 1%, I think this hopelessness we feel atm will just convert into permanent disconnect from the motherland.

On the other hand, my anger which has now turned into hopelessness has helped me in reducing my anxiety I felt like I was in for the last two months since VNC passed. So I am going to try to keep this disconnect going and ensure I don't start listening to any 'mili naghmey' by mistake to atleast keep my mental health in check.

 

[TheDarkKnight]

I hate when I now have to send money home for family maintenance. I already cancelled plans to open Roshan Digital account.

But I am never sending money for any investments anymore like property etc. Infact have put up my existing property on a flash sale to get out of my investments from this unstable country for good.

I know more dollars will flow out this way. But I am done with these 'mili naghmey' because the elite themselves invest abroad so why have we been investing in pakistan

And plus you are a youthia burger who knows nothing about Pakistan, shouldn’t have any involvement in Pakistan. But a Pakistani sitting in London can be defacto PM and Finance Minister !
I had always feared that with installing Zaradri, Nawaz and Fazulr Rahman into power , you will see a brain drain and drop in FDI as well.