ISLAMABAD – State Minister for Information and Broadcasting Farrukh Habibexpressed his optimism on Monday that the foreign remittances would touch$28 billion mark by the end of June.

Addressing a news conference here at the National Press Club, he said thatthe overseas Pakistanis had full trust in the leadership of Prime MinisterImran Khan, adding: “This is the reason that they are now sending moneythrough banking channels.” “During the first 10 months of the currentfiscal year, an amount of $24 billion has already been received,” he said.“If this (trend) goes on with the same pace, the foreign remittances maytouch $28 billion by the end of fiscal year 2020-21,” the ministermaintained.

Farrukh Habib said some overseas Pakistanis were reluctant to send theirremittances to the country through legal channels as they did not believein the previous governments. “They did not send money to the country(during the last regimes) because they knew that their money would belaundered abroad where the children (of the past rulers) were doingbusinesses.”

With regard to the present government’s economic achievements, he said thecountry’s exports surged by 13.5 per cent, while the large-scalemanufacturing grew by 9 per cent. Likewise, the foreign exchange reserveshad reached $23 billion.

Unlike the previous regime, he said the present government hadreinvigorated the textile industry by giving an amount of Rs40 billion insubsidy to the businessmen associated with the sector in Punjab. “There isa shortage of labourers in Faisalabad where the mill owners are forced toincrease their salaries so that their work continues uninterrupted.”

He hoped that the exports would reach $26 billion by the end of currentfiscal year as it was expected that the export of textile items would alonecontribute between $15-16 billion.