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Pakistan records remittances at $2.725b for March.

Patriot forever

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Pakistan entering third COVID-19 wave with strong economic indicators: Baqir
  • Baqir appreciated the role of Overseas Pakistanis for their role in maintaining the growth in remittances. “We have to thank Overseas Pakistan for the unparalleled growth we are seeing in our remittances,” he said.
Ali Ahmed 12 Apr 2021

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Governor State Bank of Pakistan (SBP) Dr. Reza Raza Baqir on Monday said that Pakistan is entering the third economic wave with strong economic indicators.
"We are entering the third Corona wave with strong economic indicators," said Baqir, while addressing an event held at the Pakistan Stock Exchange (PSX), with SBP Governor ringing the traditional bell.
Baqir appreciated the role of Overseas Pakistanis for their role in maintaining the growth in remittances. “We have to thank Overseas Pakistan for the unparalleled growth we are seeing in our remittances,” he said.
As per the State Bank of Pakistan (SBP) latest figures, remittances rose to $2.7 billion in March 2021, 20 percent higher than last month and 43 percent higher than March 2020. Cumulatively during July-Mar FY 21, remittances have risen to $21.5 billion, up by 26 percent over the same period of FY20.

Talking about the real economy of the country the State Bank of Pakistan Governor highlighted that the latest Large Scale Manufacturing Index shown 9 percent year on year growth in January of this year, while cement sales that are not only used for housing and construction but also for exports showed a growth of 44pc year on year in March that translates into a figure of 5.4 million tonnes in March 2021.
“This is important because the employment in the informal sector is a lot more now than it was one year ago,” said Baqir. Whereas in the auto sector, the sale of passenger cars grew 35pc year on year in February, said Baqir.


The SBP chief said that the central bank’s FMCG index, which is a good indicator of demand shows the growth of in the second quarter of this fiscal year of 17.8pc in nominal terms, and in real terms that growth comes to 8.7pc in the second quarter.

"If you look at the supply side indicators or the demand side indicators, we are now seeing a momentum that was not present last year," said Baqir.
 

Norwegian

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Our CAD for March will be minimal. Overall it will be positive.
March will show good growth as well, considering tax revenue collection imports exports and remittances are all high. LSM will show significant growth as well.
Patwaris are surprisingly missing on every good news regarding Pakistani economy. Why is that they can only understand this kind of boom and bust economy? And have no idea about self sustainable economy?
@ziaulislam @Del @Dual Wielder @muhammadhafeezmalik @Chak Bamu @Jungibaaz @FOOLS_NIGHTMARE @Mav3rick @Muhammad Omar @Tameem
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HttpError

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But the million dollar question is what does overseas Pakistanis get back in return? Oh Yeah, a single tweet confirming your money has reached the destination and nothing more.
 

AZADPAKISTAN2009

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Pakistan needs to focus more on Local Markets Development and not on Remittance
Thank you to Pakistanis who send funds to home for families

They certainly deserves perks from Government more then Bilawal or Maryem
 

mkg00179504

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I sent about $3000 this month . It's ok to send money because we have relatives and people who are in need but what do we get in return. The answer is Nothing. In fact we are labeled as foreign agents.
 

HttpError

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Give us the voting rights....
Not just voting rights, there should be at least 4 seats in NA from each province only dedicated for Overseas Pakistanis to resolve their issues. Need one window solution for property-related matters. If they can't even give this much then they shouldn't expect more in the future.

Overseas Pakistanis spend their whole lives outside Pakistan and sending Billions back home but they have to suffer for property-related matters and other small issues.
 

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