Foreign Remittance to Pakistan: Few Facts and Figures
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ISLAMABAD, Jun 15 (APP): Foreign Remittance to Pakistan: Few Facts and Figures
The country has received valuable remittances amounting to over $4.83 billion during July-April 2015-16 through workforce in Saudi Arabia, the country which is contributing a major share of remittances.
According to an official of Ministry of Overseas Pakistanis and Human Resource Development, the country received the inflows worth $3.54 billion from the United Arab Emirates (UAE), registering a largest increase from any major remittance-sending country during the last nine months.
Remittances from the Gulf Cooperation Council (GCC) countries and the United Kingdom reached at $1.97 billion and $2.02 billion, respectively in July-April 2015-16, the official said.
The official informed that the government is considering different proposals to substantially boost foreign remittances and foreign exchange reserves. The Gulf region is to be effectively tapped by exporting the maximum manpower.
The government is expecting good opportunities of manpower export during the events of Expo 2020 in Dubai.
Besides this, massive new construction plans in Saudi Arabia will also provide opportunities for Pakistani manpower.
Like other Gulf States, Qatar stands prominent in offering a number of incentives to Pakistan due to its regional importance.
Qatar is going to host the FIFA 2022 World Cup and allocated a huge budget for this purpose which would require substantial infrastructural development where Pakistani engineers and labour force can effectively play their role in the development.
This will help decrease unemployment rate in the country and increase the remittances, the official added.
