Pakistan reported over 20 per cent growth in remittances from overseas Pakistanis during the first 8 months of fiscal 2007-8. The country ranked number 12 in the world with over $4b in this period. High oil prices and strong economies in the oil-exporting Middle Eastern countries are contributing to strong demand for migrant laborers.
According to a report titled “Remittance Trends 2007″ by the World Bank , the flow of remittance globally continues with a robust growth with developing countries taking the lead as major recipients. The growth of remittances to developing countries remains robust because of strong growth in Europe, Middle East and Asia.[Read more]
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