Pakistan-Remittances grow to $14.6bn in nine months

[ashok321]

Pakistan seeks to raise funds from expatriates

The Pakistani government of prime minister Shahid Khaqan Abbasi will seek up to $1bn from the country’s expatriates worldwide to boost its falling foreign reserves before it leaves office in May, a central bank official told the Financial Times on Monday. The plan has been prompted by a depletion of the country’s net foreign exchange reserves with the central bank which earlier this month stood at about $11.4bn — roughly equivalent to ten weeks of imports — down from around $14.1bn in December.

The borrowings would take place in US dollar-denominated debt, the central bank official said. They added: “our expatriates will be offered attractive rates, better than what they will receive elsewhere”, without revealing the terms of the offer.

The offer would come amid signs of growing political uncertainty in Pakistan since former prime minister Nawaz Sharif was disqualified by the courts in July over unexplained overseas wealth of his three children. Mr Sharif continues to claim that he was the target of a conspiracy against democracy, implying that the influential army had a role in his removal.

Independent analysts warned that it was unclear if the bid to raise $1bn will be successful. “We have so much uncertainty right now. Its hard to known if better terms will attract people to send their money to Pakistan”, Yasin Lakhani, a former chairman of the Karachi Stock Exchange said. Pakistan’s economy has been hit hard during the present July-June financial year, forcing the government influenced central bank to allow a depreciation of the Pakistani rupee in the first half of the financial year followed by a more recent one of about five per cent.

Copyright The Financial Times Limited 2018. All rights reserved.

 

[BATMAN]

both actually...

Why are you against the vote ?

 

[El Sidd]

Why are you against the vote ?

We dont have a system fool proof enough.

Overseas vote only works in presidential system not parliamentary System

 

[BATMAN]

Ever since Musharraf gone, Pakistan govt. has done nothing to increase share in middle eastern job market.
On the other hand India does a lot to kick Pakistan out of middle east market.

We dont have a system fool proof enough.

There is no system which is fool proof.
It's the nation, which has to be raised in a way that they don't grow corrupt and never think of breaking rules and regulations.
There's no way Pakistan have fair elections, unless it's taught in schools to be honest. Unfortunately when child goes home he's told to be lair/lawyer(same thing) and cheat the state, as much as possible.

 

[El Sidd]

There is no system which is fool proof.

Its a matter of being efficient and practical.

I have a stand on this and is not a matter of debate.

 

[BATMAN]

Its a matter of being efficient and practical.

I have a stand on this and is not a matter of debate.

Dude read which i stated below... if nation is honest with state, even simple method would work.
In Pakistan NO one is honest with state.

If you learn how people vote in Europe, you would be surprised.
Votes are casted at union council office, and when union council office is closed you can leave your vote in letter box out side.
Elections are not held only for electing the parliament & union council but also to decide on state affairs, which is almost weekly business in true democracies.
Elected councils /parliament role in true democracy... is only administrative and representative... they can't and they should not decide on national issues on behalf of nation.

 

[FuturePAF]

Reforms to allow FDI from overseas Pakistanis into important sectors like Agriculture, Manufacturing and IT Services should allow the country to grow out of the current circular debt problems. Pakistani Banks hold $20 Billion in their deposits (source: from a previous story months back), so its not like the money isn't there, the terms of doing business, and a business friendly atmosphere will attract investments which will create products and jobs; items which can be taxed, and pay off these long standing debts.

 

[krash]

You can find pros and cons yourself.

For Me. Its simple. You dont live here. You dont get a say how those who live there should live.

We don't live there because uneducated decision takers such as yourself have made it near impossible for us to live there. Im not just talking about the elections, oh no sir. You can't even drive a car straight, can't spare a paisa without diddling your tongue in it, can't even stop yourselves from destroying your fellow citizens's right every chance you get. If any Pakistani should not be allowed to have a say in Pakistan, I have a few ideas.

If the money they sent was marked: to the state of pakistan i apologies. But its family and business.

Moreover the money that goes out is far greater than what comes in.

Goes further to show that you aren't a very bright person. Any remittances sent to Pakistan, be it for family or for drowning in the Indus, are a direct booster shot towards the country's economy; it is an external supplement of cash which the economy did not create.

Moreover, the money that goes out is sent out by the people who live there and by those imposed on the country by the decisions of the ones who supposedly in your opinion should have the only say as to how our country is run. The money that is sent back, however, is by those who under your limited understanding should not get to have a say in Pakistan's affairs. Bravo, you can't even put 2 and 2 together.

 

[El Sidd]

We don't live there because uneducated decision takers such as yourself have made it near impossible for us to live there. Im not just talking about the elections, oh no sir. You can't even drive a car straight, can't spare a paisa without diddling your tongue in it, can't even stop yourselves from destroying your fellow citizens's right every chance you get. If any Pakistani should not be allowed to have a say in Pakistan, I have a few ideas.



Goes further to show that you aren't a very bright person. Any remittances sent to Pakistan, be it for family or for drowning in the Indus, are a direct booster shot towards the country's economy; it is an external supplement of cash which the economy did not create.

Moreover, the money that goes out is sent out by the people who live there and by those imposed on the country by the decisions of the ones who supposedly in your opinion should have the only say as to how our country is run. The money that is sent back, however, is by those who under your limited understanding should not get to have a say in Pakistan's affairs. Bravo, you can't even put 2 and 2 together.

Awwwwww

 

[krash]

Awwwwww

Yea, sounds about right.

 

[El Sidd]

Yea, sounds about right.

Whales go by Sound.

Human by logic

 

[krash]

Whales go by Sound.

Human by logic

Are you trying to dis your own self? Why? Nvm.

 

[El Sidd]

Are you trying to dis your own self? Why? Nvm.

Good. Go cry about it

 

[shahbaz baig]

We dont have a system fool proof enough.

Overseas vote only works in presidential system not parliamentary System

where there's a will there's a way..

You pseudo intellectual.. We are asking just voting rights.. And you have enough pain inside.

Why dont you say anything about rigging, hours trading during elections. If you are really concerned about voting.. You hypocrite..

Why dont you pathetic people eradicate corrupt mafia and current electoral system within pakistan.. Oooh yeah got it you people Just want a voting right of illiterate people and not the brain drain. So you would keep on doing whatever you want.

Tm jesy logo ny pakistaniyo ka na sirf pakistan mai balkay pakistan sy bahar bhi jeena haraam kr rkha hai. Because we represent our pakistan arround the world.

Even i can bring max $1 billion by utilizing my resources to be a repatriate...... But why should i do it when i see the whole corrupt system there, bad economic condition, illiterate MNA MPA, most corrupt politicians on top, from bureaucrats to kleptocrats, and people like you the cancer of pakistan's society.