Pakistan lost over $4 billion in FY23 in remittances as illegal channels offer higher exchange rates

[Kingdom come]

lost over $4 billion in remittances sent by expatriates to illegal channels in the current fiscal year, much higher than the amount the cash-strapped government struggled to secure from the IMF as a bailout. Data released by the State Bank of Pakist...

Read more at: https://www.deccanherald.com/intern...nels-offer-higher-exchange-rates-1235917.html

 

[epebble]

Money does not get lost. It just ends up with a different person. Like conservation of matter, when people say money is lost, it just means it is with someone else they don't like.

 

[firohot4321]

Dar economics

 

[IceCold]

And the FA pass economist said our economy will be back on track In one year.

 

[Kingdom come]

And the FA pass economist said our economy will be back on track In one year.

I don't think he said that exactly

 

[Olympus81]

$4 bn less remittance than what Pakistan received YoY.

Multiple factors. A general trend of Pakistanis not being attached to their motherland as before, inflation in their resident countries and most importantly the establishment and PDM partnership.

 

[PradoTLC]

lost over $4 billion in remittances sent by expatriates to illegal channels in the current fiscal year, much higher than the amount the cash-strapped government struggled to secure from the IMF as a bailout. Data released by the State Bank of Pakist...

Read more at: https://www.deccanherald.com/intern...nels-offer-higher-exchange-rates-1235917.html

good !

 

[PakFactor]

$4 bn less remittance than what Pakistan received YoY.

Multiple factors. A general trend of Pakistanis not being attached to their motherland as before, inflation in their resident countries and most importantly the establishment and PDM partnership.

More so, the disassociation now. In this social media age and the way PDM and its handlers played doesn’t sit well with Western-educated Pakistanis. It was a stupid move that would cost the country dearly.

Many I know have asked their elders to sell and get the money out for good as they want to have nothing to do with the country, especially the way it operates as a lawless jungle.

 

[Kingdom come]

good !

Why ?

 

[Mugen]

Well deserved. While they beg other countries, all overseas Pakistanis should stop sending money.

 

[Mirzali Khan]

Alhamdullilah

 

[maithil]

It was increasing YOY basis. So net loss should be this 4 Billion plus that increase.

 

[Riz]

Inshallah by the grace of All mighty hafiz qurran COAS will fix everything in coming months , world have Leaders but we have king.
Sab parho Laaa ilahaaa illallah

 

[313ghazi]

Why ?

Overseas Pakistanis want to see the hybrid regime fail. I'd much rather the money in the hands of businesses and private individuals, than in the hands of govt. Any thing we can do, however small to help make life difficult for the facist regime imposed on us - is a good thing.

 

[Olympus81]

More so, the disassociation now. In this social media age and the way PDM and its handlers played doesn’t sit well with Western-educated Pakistanis. It was a stupid move that would cost the country dearly.

Many I know have asked their elders to sell and get the money out for good as they want to have nothing to do with the country, especially the way it operates as a lawless jungle.

Told the same to my in laws.

Cut your losses and make an exit for good.