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Workers remittances from UAE expected to reach $ 3.8 bln: Envoy
ISLAMABAD, June 20 (APP): Pakistans Ambassador in UAE Jamil Ahmad Khan has stated that the remittances from UAE have been increasing and are expected to rise from $ 2.2 billion to $ 3.8 billion this year, a 50 per cent increase. He was addressing a certificate distribution ceremony to the Highest Foreign Exchange Remitters to Pakistan held at the Embassy of Pakistan in Abu Dhabi, according to a message received here from Dubai on Monday.
The Ambassador said that Pakistan is likely to receive record over $ 10 billion remittances in the current fiscal year.
According to the State Bank of Pakistan, overseas Pakistanis remitted over $ 1 billion for consecutive three months in March, April and May, thus raising the foreign exchange reserves of Pakistan to a record $ 17.518 billion.
The Ambassador while appreciating the role of overseas Pakistanis in UAE for supporting their motherland through their remittances and promoting a good and positive image of Pakistan urged them to work with a spirit of nationalism.
He said that more than 1.2 million Pakistanis are living in UAE and if 70% Blue Collar workers would send US $ 1000 per annum it would contribute $ 840 million. If 20% White collar/salaries/professionals would send $ 5000 per annum it could contribute $ 1.2 billion and the rest of 10% traders/businessman etc send $ 15000 per annum it would contribute around $ 1.8 billion, he added. The Ambassador said that if we sum up the whole contribution it would be around $ 3.8 billion per annum.
He said that during the last week, community members remitted Rs 354 million (over Dh15 million) from here and it is a record.
The Ambassador said that the Embassy in UAE was sending a proposal to Islamabad to decorate those with the highest remittances of at least $ 2 million with the highest national awards.
He said that these measures will encourage more people to send money through legal channels which will support Pakistans economy.
He said that the overseas Pakistanis are like the ambassadors of the country and have made significant contribution towards dispelling the misperception about Pakistan.
He said that overseas Pakistanis are the backbone of the economy and are significantly contributing their share in economic growth of the country.
The Ambassador said that the appreciation programme will be a continuous effort and similar functions will be organized to recognize all deserving expatriates.
The Ambassador distributed 118 certificates among the community members.
Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - Workers remittances from UAE expected to reach $ 3.8 bln: Envoy
ISLAMABAD, June 20 (APP): Pakistans Ambassador in UAE Jamil Ahmad Khan has stated that the remittances from UAE have been increasing and are expected to rise from $ 2.2 billion to $ 3.8 billion this year, a 50 per cent increase. He was addressing a certificate distribution ceremony to the Highest Foreign Exchange Remitters to Pakistan held at the Embassy of Pakistan in Abu Dhabi, according to a message received here from Dubai on Monday.
The Ambassador said that Pakistan is likely to receive record over $ 10 billion remittances in the current fiscal year.
According to the State Bank of Pakistan, overseas Pakistanis remitted over $ 1 billion for consecutive three months in March, April and May, thus raising the foreign exchange reserves of Pakistan to a record $ 17.518 billion.
The Ambassador while appreciating the role of overseas Pakistanis in UAE for supporting their motherland through their remittances and promoting a good and positive image of Pakistan urged them to work with a spirit of nationalism.
He said that more than 1.2 million Pakistanis are living in UAE and if 70% Blue Collar workers would send US $ 1000 per annum it would contribute $ 840 million. If 20% White collar/salaries/professionals would send $ 5000 per annum it could contribute $ 1.2 billion and the rest of 10% traders/businessman etc send $ 15000 per annum it would contribute around $ 1.8 billion, he added. The Ambassador said that if we sum up the whole contribution it would be around $ 3.8 billion per annum.
He said that during the last week, community members remitted Rs 354 million (over Dh15 million) from here and it is a record.
The Ambassador said that the Embassy in UAE was sending a proposal to Islamabad to decorate those with the highest remittances of at least $ 2 million with the highest national awards.
He said that these measures will encourage more people to send money through legal channels which will support Pakistans economy.
He said that the overseas Pakistanis are like the ambassadors of the country and have made significant contribution towards dispelling the misperception about Pakistan.
He said that overseas Pakistanis are the backbone of the economy and are significantly contributing their share in economic growth of the country.
The Ambassador said that the appreciation programme will be a continuous effort and similar functions will be organized to recognize all deserving expatriates.
The Ambassador distributed 118 certificates among the community members.
Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - Workers remittances from UAE expected to reach $ 3.8 bln: Envoy
