Remittances

A large number of Pakistanis is working in foreign countries around the world and their remittances contribute to the economic growth of Pakistan. Expatriates’ remittances for the last few months had been showing a downward trend which was obviously a matter of concern. Now, it is quite good to note that remittances are showing an upward trend again.

The figures for August 2019 alone stood at $1.95 billion which are 26.8 percent higher as compared to remittances received during August 2018. Remittances had registered decline of 3.08 percent to $19.303 billion during the last financial year (2018-19) on the whole. Despite the not so good economic conditions prevailing in a number of foreign countries, it is expected that the remittances received from expatriate Pakistanis will be more or less higher during the current financial year as the federal government is taking various measures to motivate Overseas Pakistanis to send their remittances through proper channels.

Yousaf Jamil

Wah Cantt