Saturday, 15 August 2009

NEPAL: Remittance sustains 30pc families

KATHMANDU, Aug 11 - Each household which has a family member working abroad receives an average remittance of Rs. 80,462 per year.

The Labour Force Survey 2008 carried out by the Central Bureau of Statistics (CBS) revealed that 30 percent of the households receives remittances either from inside or outside the country.

Overseas remittances accou- nt for 83.2 percent with the rest coming from within the country. Families receiving remittances from inside the country receive an average of Rs. 28,976

per year.

According to Nepal Rastra Bank (NRB), the country received remittances amounting to Rs. 204.72 including money sent back by workers and servicemen's pensions during the first 11 months of the last fiscal year.

The remittance inflow grew by 51 percent during 11 months of last fiscal year against the increase of 37.3 percent, according to the NRB. The government has also admitted that the role of remittance remained crucial to reduce to people under poverty line from 41 percent to 31 percent now.

Above two million people are estimated to have gone to foreign countries to work. The survey found that 29.1 percent of the households had at least one member working abroad. Read more

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