Remittances cross $1 billion dollars, make new record

[BATMAN]

yo Pakistani expats are rich

Hi blingbling.... how's the situation in Lybia?
Tell us what does people under war feel like?
What are the spirits... and how does civilians feel about arming of rebels by foreign?
What kind of weapon does rebels are armed with? I don't trust what TV show us!
Lybia has huge investments in Pakistan... we have Pak-Lybia holding co.

 

[acetophenol]

good job paks!

 

[Rang De]

Great. for most asian countries remittances means a lot.

here's a chart from World bank website on top ten recipients of migrant remittances among developing countries in 2008

in 2010 india's remittances were above 55billion dollars.

 

[iPhone]

A lot of Pakistanis I know here are buying property in Pakistan aside from just sending money to their relatives. ESP. People who've been here 15 plus years and have saved up considerable amount of funds. 1 billion dollar a month is a great amount which the govt should capitalize on effectively.

 

[Meengla]

A lot of Pakistanis I know here are buying property in Pakistan aside from just sending money to their relatives. ESP. People who've been here 15 plus years and have saved up considerable amount of funds. 1 billion dollar a month is a great amount which the govt should capitalize on effectively.

Yes! I have been sending money via UBL NY branch to Karachi since 2004 and, within next few months, I am planning to make my first real estate investment in Pakistan: Buying a property near the fabulous beaches around Karachi. I will probably start a new Topic about it soon because I need sincere and useful advice from fell PDF folks, especially those who are already in Karachi. Thanks in advance!

Coming back to the topic, I think, despite all rumors that overseas Pakistanis would not trust the PPP govt. to send money there is no difference since Musharraf left. The tragedy of 9/11 has effectively killed the illegal 'Hundi' system to send money to Pakistan and now official channels are being used. Good!

 

[desioptimist]

Yes! I have been sending money via UBL NY branch to Karachi since 2004 and, within next few months, I am planning to make my first real estate investment in Pakistan: Buying a property near the fabulous beaches around Karachi. I will probably start a new Topic about it soon because I need sincere and useful advice from fell PDF folks, especially those who are already in Karachi. Thanks in advance!

Coming back to the topic, I think, despite all rumors that overseas Pakistanis would not trust the PPP govt. to send money there is no difference since Musharraf left. The tragedy of 9/11 has effectively killed the illegal 'Hundi' system to send money to Pakistan and now official channels are being used. Good!

How much is the cost of property. How many rooms. Can you share it, if it is not too personal.

 

[Meengla]

Look up Sherwani Farms.
About 1,000 sq yard of fertile land-only, only 12 km from beaches, for around $10,000.
Still it is too early for that. I am not fully committed to that yet.

 

[aks18]

Nope it was not done by Bhutto , nor his clown son it was due to the fact there is political turmoil in Middle east and pakistanis are moving their savings back home to Pakistani banks !! fearing what happened to ppl in Libya

People who live in middle east owe nothing to gov , as they have not provided them with jobs , a reason why they moved to middle east in frist place.


Any political party would have been credited with it if they had ran programs to force middle east countries to hire more Pakistanis with better pay which did not happen ...

So I salute the individual pakistani and their education , thanks to HEC and other organizations for making it happen as these organizations help validate Pakistani University degrees over seas if it was for Bhutto they would close down all universities

1st time azad nai koi sahi baat ki hai :p

 

[BATMAN]

A lot of Pakistanis I know here are buying property in Pakistan aside from just sending money to their relatives. ESP. People who've been here 15 plus years and have saved up considerable amount of funds. 1 billion dollar a month is a great amount which the govt should capitalize on effectively.

If you see no where it is written $1billion came from US!!!!
Major chunk comes from Saudi Arabia and efforts are being made to cut it down.
Pakistan need to send its army immediately to Saudi Arabia for its protection or we'll loose free oil, investment and this remittance.
I wonder what will become of Pakistan than.

 

[aks18]

almost 10 million pakistanis are living abroad these numbers of Remittances should rise

 

[BATMAN]

Look up Sherwani Farms.
About 1,000 sq yard of fertile land-only, only 12 km from beaches, for around $10,000.
Still it is too early for that. I am not fully committed to that yet.

I'm not prepared to sell.

 

[Meengla]

I'm not prepared to sell.

So you own at Sherwani Farms? Any advice?
Thanks!

 

[iPhone]

If you see no where it is written $1billion came from US!!!!
Major chunk comes from Saudi Arabia and efforts are being made to cut it down.
Pakistan need to send its army immediately to Saudi Arabia for its protection or we'll loose free oil, investment and this remittance.
I wonder what will become of Pakistan than.

I didn't say 1 billion came from the US but nor did all of it came from the Arab lands. You know what, it's ok, bro. nothing went from the US.

 

[American Pakistani]

Great. for most asian countries remittances means a lot.

here's a chart from World bank website on top ten recipients of migrant remittances among developing countries in 2008

in 2010 india's remittances were above 55billion dollars.

wow after looking India's 55billion$ remittances i am soo angry on Pakistanis, they earn alot but spend everything there like crazy.

 

[deckingraj]

A sudden increase in remittance is not always a good sign....In fact it tells you that Pakistan currency has depreciated further implying that Pakistani's oversaeas will make more money in Pakistan rupees by converting foreign currency...Though this will help a bit in managing deficit because devalued currency implies imports are costlier and exports become more competative(since exports are now cheaper)...However it takes some time before price index(inflation) settles down...Short term impact would be further devaluation of Pakistan currency unless and until reserve bank steps in and take corrective measures...