Remittances reached highest ever amount in one month in the history of Pakistan: PM

[American Pakistani]

with monthly 2.5 billion USD we can hit 30 billion usd per year

Most likely people sending money for qurbani or relocating to Pakistan after losing jobs in gulf.

IMO people who are earning in gulf/etc should not waste money here and there, instead should start a business in Pakistan so that they have something to return to. Otherwise you loose your job in gulf/etc and that's the end of it.

I have seen the mentality in Pakistan that forget about tomorrow think about today. In today's world that's a diastorous mentality.

 

[Kabira]

Get a life moron. It's a key indicator of how much money is flowing in. Don't criticise for the sake of criticism

Remittances run Pakistan but there is no point for PM to announce it every month. Considering because of corona remittances are going to tank.

 

[WarKa DaNG]

Is this not good? Dollars flowing in to the country

 

[Pakistansdefender]

IMO thats actually bad news, it means people are relocating from ME after losing jobs.

Always the pessimist.
It can also means that the government giving incentives to sending remittences through proper channel and crackdown on hawla network is indeed working.
Now people have options and ways to send money through various ways.
And it is indeed working.
Glass is always half full and half empty.

 

[Nefarious]

That's a good record to break, cry babies always find something to cry about

 

[TheDarkKnight]

And now remittances have taken over exports, this is actually a shame.

Omg. You want remittances to stay down just so that they can be less compare to the exports? Whats the benefit by keeping them down? Yes we would like exports to be more, but its illogical to clamp remittances down. Its more inflows in our country so it will help filling the deficit.

 

[truthseeker2010]

Always the pessimist.
It can also means that the government giving incentives to sending remittences through proper channel and crackdown on hawla network is indeed working.
Now people have options and ways to send money through various ways.
And it is indeed working.
Glass is always half full and half empty.

If you look at Bangladesh and India, thats also experiencing the same. Post covid GCC would be quite different.

 

[El Sidd]

More and more people now whiten their money in Pakistan

 

[N.Siddiqui]

The rise before the fall, the flattening of the curve and subsequent fall.

More likely people from Dubai(UAE) and Saudia coming home with all their income and savings after job losses, hence the rise, hope this is not true.

The other reason could be more legal channels and not Hundi is used, as PM IK has promised to streamline the remittances transfer.

 

[Pak_Sher]

Who ever hand IK twitter should stop posting these cringe updates. Announce something worthwhile.

Cracking down on Hawala System is a great achievement by itself. With 300,000 Overseas Pakistanis laid off in GCC and we have a record that is a great achievement.

 

[HAIDER]

Cracking down on Hawala System is a great achievement by itself. With 300,000 Overseas Pakistanis laid off in GCC and we have a record that is a great achievement.

No outflow of forex due to no Hajj ...plus these months PakistanI send extra money due to COVID lockdown in Pakistan. An estimated outflow of Pakistan only for umra is $1,313,475,000

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Pakistani pilgrims stayed on top of the list for performing Umrah this year, leaving behind India, Indonesia, Yemen and other countries, Arab News reported.

The number of Umrah visas issued by Saudi Arabia has reached 998,670 this year, of which 695,740 pilgrims arrived in the kingdom.

Pilgrims from Pakistan topped the list with 262, 695 in number, followed by 140,505 from India, 131,908 from Indonesia, 26,334 from Yemen, 21767 from Malaysia and 14,667 from the UAE.

No Umrah tax waiver for Pakistan yet

Most have already concluded their pilgrimage, although 294,767 still remain in the KSA - with 198,786 in Makkah and 95,981 in Madina.

Around 650,702 pilgrims travelled by air, 45,010 by land and 23 by sea to Saudi Arabia, according to the data provided by the kingdom's Hajj and Umrah ministry.

Overstaying Umrah pilgrims to face six-month jail, over Rs1.6m fine in Saudi Arabia

Saudi Vision 2030 reform plan to reduce dependence on oil also aims to attract more than 30 million Umrah pilgrims. Developing Hajj and Umrah organisations and services is among the top priorities of the Saudi government.

A weekly indicator launched not long ago by Saudi's Hajj ministry allows the authorities to track the number of pilgrims coming into the country.

It helps the government to better prepare for the influx and provide high-quality services.

The story originally appeared in Arab News

 

[Pakistansdefender]

More and more people now whiten their money in Pakistan

And that is a good thing.

 

[Shahzaz ud din]

Pakistan recorded highest remittances in July, says PM Khan

 

[El Sidd]

And that is a good thing.

for who?

 

[Imran Khan]

it can be increased more too if SMQ just STFU .