This is spreading disinformation because: 1) they were denied better remuneration and 2) the law and order situation has been getting from bad to worse.
Today, I want to let every Pakistani know that overseas Pakistanis are the real saviors. At an average the country has been receiving around US$1.2 billion from the IMF and the amount has to be repaid, as against this overseas Pakistanis have been remitting more than US$24 billion per annum.
According to the latest information released by State Bank of Pakistan (SBP) during February 2024 overseas Pakistanis have remitted US$2.2 billion.
Regretfully the SBP press release highlighted “During February 24, remittances decreased by 6.2%MoM but reluctantly admitted 13%YoY increase.
Their contribution demands highest recognition as they remitted over US$18 billion during the first eight months of the current financial year (FY24).
Remittances inflows during February 24 mainly came from Saudi Arabia (US$539.8 million), United Arab Emirates (US$384.7 million), United Kingdom (US$346.0 million) and United States (US$287.4 million).
Since inflow of every US$ is important for Pakistan, the newly elected government must announce an incentive package for the overseas Pakistani. Top the list item should be giving them voting time. The government has 5 years to put the required infrastructure in place. This can’t be done without changing the mind set of policy planners.
