• Tuesday, December 10, 2019

Overseas Pakistanis remit $21.84 billion during FY 2019

Discussion in 'Pakistan Economy' started by ghazi52, Jul 11, 2019.

  1. ghazi52

    ghazi52 ELITE MEMBER

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    Overseas Pakistanis remit $ 21.84 billion during FY1


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    KARACHI: Overseas Pakistani workers remitted $21,841.50 million during FY19 showing a growth of 19.68% compared with $19,913.55 million received during the same period in the preceding year.

    According to State Bank of Pakistan, during June 2019, the inflow of worker’s remittances amounted to $1,650.52 million, which is 28.72% lower than May 2019 and 1.40% higher than June 2018.

    The country wise details for the month of June 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $334 million, $356.03 million, $276.76 million, $268.97 million, $163.46 million and $52.49 million, respectively, compared with the inflow of $336.61 million, $345.31 million, $260.32 million, $260.25 million, $163.53 million and $62.16 million, respectively, in June 2018.
    Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during June 2019 amounted to $198.81 million together as against $199.47 million received in June 2018.
     
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  2. ghazi52

    ghazi52 ELITE MEMBER

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    PM Imran thanks overseas Pakistanis for more remittances

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    ISLAMABAD: Prime Minister Imran Khan has thanked the overseas Pakistanis for sending more remittances through banking channels.

    Imran Khan turned to Twitter saying “I want to thank our overseas workers for sending more remittances through banking channels.”

    The Prime Minister went on to say, “Remittances for the past fiscal year came in much higher at 9.7 % annual growth and totalled $21.8 bn for the year. This was much higher than the previous year when they grew only 2.9 %.”

    [​IMG]
    Imran Khan

    ✔@ImranKhanPTI


    I want to thank our overseas workers for sending more remittances through banking channels. Remittances for the past fiscal year came in much higher at 9.7 % annual growth & totalled $21.8 bn for the yr. This was much higher than the previous year when they grew only 2.9 %

    Jul 11, 2019

    On Wednesday, according to State Bank of Pakistan, overseas Pakistani workers remitted $21,841.50 million during FY19 showing a growth of 19.68% compared with $19,913.55 million received during the same period in the preceding year.

    During June 2019, the inflow of worker’s remittances amounted to $1,650.52 million, which is 28.72% lower than May 2019 and 1.40% higher than June 2018.

    The country wise details for the month of June 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $334 million, $356.03 million, $276.76 million, $268.97 million, $163.46 million and $52.49 million, respectively, compared with the inflow of $336.61 million, $345.31 million, $260.32 million, $260.25 million, $163.53 million and $62.16 million, respectively, in June 2018.
     
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  3. Kabira

    Kabira ELITE MEMBER

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    At this rate soon remittances will cross exports.
     
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  4. Darth Vader

    Darth Vader SENIOR MEMBER

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    Yes we Thank Overseas Pakistanis but we will make sure to not provide any benefit
    Charges them higher fees
    Exaggerated taxes
    Will make visa process and access to consulates hard as possible
    And we will make sure they cant vote for sh**
     
  5. BATMAN

    BATMAN ELITE MEMBER

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    Now tax their billions $.

    Musharraf govt. revolutionize Pakistan's education and now Imran khan is reaping the fruit.
     
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  6. Syed1.

    Syed1. SENIOR MEMBER

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    220 million Pakistanis export $23billion, 5 million overseas Pakistanis remit $22b. Mashallah...
     
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  7. Nilgiri

    Nilgiri ELITE MEMBER

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    In USD and real terms, I would say it pretty much already has. Structurally we will know more established trend only cpl years from now.
     
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  8. Longhorn

    Longhorn FULL MEMBER

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    Ask not what your country can do for you, ask what you can do for your country.
    ( John F Kennedy)
    Just for a change.
     
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  9. Darth Vader

    Darth Vader SENIOR MEMBER

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    For Past 60 Years this country has grinded its low class and middle class
    Through Loans, Low Wages, Corruption, War, Lawlessness , sponsring all through its elites , judicary , Police , Politicans , Army
    Ask not what you can do for your country, ask what your country has done for you :)
    Just for a change
    atleast they deserve 2 3 years of rest.
    Whatever imran is doing it wont help the country in long or short term
    You cant cure cancer with bandaid

    This will last for 1 more Generation i would give 20 more years.
    For 2 decades Pakistan Could have built huge capital but they failed at every step.
    Majority of senders are 1st generation immigrants when you go to 2nd and 3rd generation flow of income will change, and they will use that money in local countries what will Pakistan do than ?
     
  10. Pakistansdefender

    Pakistansdefender SENIOR MEMBER

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    Overseas Pakistanis understand Pakistan and they never disappoint the pm.
    Unlike the Tom dick and Harry here who discuss the darnomica and economy over a plate or phaja ke paya and declare the doom in the country which they claim to love .

    Just try not to find fault with everything .
    Things get easier slowly .
    Surely if people are willing to send money home through proper channels maybe they have seen some change .
    Punjabi ki aik misal hai na.
    Bakri doodh daiti hai to mengani bhi dalti hai.. Her positive cheez ko criticise nhn kerta .

    They are thousand times more Pakistanis then us lazy asses back home.
    The first thing They learn there is that they have to work their asses to achieve something and not sit idle and comment on everything and things that are way above intellectual level of people.
     
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  11. Meengla

    Meengla SENIOR MEMBER

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    Great news! And yet there is still no banking channel to send from America to Pakistan?! I know there's Xoom and Western Union but my accounts with them got defrauded last year and I am not going near them anymore. Why such a neglect for a country where perhaps the Pakistani expats are the most prosperous compared with other Pakistani expats?

    PS. I don't feel to be doing something special for the country when I send money for family support. I know it helps Pakistan but primarily I am helping my own family. So there is no sense of entitlement.
     
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  12. Devil Soul

    Devil Soul ELITE MEMBER

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    Rupee Fall = increase in remittances..... as they are getting good rate....
     
  13. Indus Pakistan

    Indus Pakistan ELITE MEMBER

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    I have always said that Pakistan economy primarily is just labour remittance economy.
     
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  14. aziqbal

    aziqbal PDF THINK TANK: ANALYST

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    good many of these Pakistanis work so hard

    Philippines is like over $30 billion and India is the leader with close to $70 billion in remittances
     
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  15. Darth Vader

    Darth Vader SENIOR MEMBER

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    Things have gotten easy Please enlighten us ?
    1
    Any proper and easier channels for expats to invest in Pakistan ? Unless they are willing to give tons of bribe
    2
    Any direct channel for expats to send money back to Pakistan beside few Western companies
    3
    Any support of Expats from Pakistan Gov you do know that you have thousands of pakistani stuck in jails just because they were trying to leave the beloved country to support their families.
    4
    Any progress in regards to votting for these beloved Pakistani who work their asses off ?
    5
    The biggest issue with Pakistani avam i have seen is how people take criticism, even when they know they are at fault still try to portray the macho image for no reason
    6
    Please do tell me how many of 2nd Generations kids will send money to Pakistan ? As i said that road is ending its just pakistan doesnt offer much.
    7
    If someone is pointing a fault it might be he is yelling so you can save your titans from sinking
    8
    Please do tell me some new positive things from Pakistan in last decade or so beside the so called Naya Pakistan

    Gone end soon
     
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