Wednesday, 19 August 2009

PAKISTAN: Govt to take steps for enhancing remittances

Saturday, August 15, 2009
By By Salman Siddiqui
KARACHI: The government is to formally announce a number of initiatives on August 21 in order to give a jump to home remittances.

On the same day, the government would also disclose its strategy as how Pakistan was receiving record high remittances since last couple of months when the world is passing through a historic recession.

Finance Minister Shaukat Tarin told this on Thursday night when media approached him to clarify his two contradicting statements in which he criticized the previous government of taking loans from international financial institutions such as International Monetary Fund (IMF) and on the other hand the current government was also availing the IMF standby loan of $7.6 billion since last November. He was available there on the sidelines of a meeting he held with the member of Managing Committee of Karachi Chamber of Commerce & Industry (KCCI) at a local hotel.

He said the government had already undertaken soft launch of the initiatives for enhancing remittances last May and would formally launch these initiatives on August 21. These initiatives would include the speeding up of services, revision in rates and convenience to the Pakistanis living abroad. As a matter of record, Pakistan received the highest-ever remittances in a month at $747.22 million in July 2009 and $7.811 billion the highest-ever remittances in a year ended on June 30, 2008. Read More

1 comment:

  1. It could be a nice step to enhance remittances and could be helpful for Pakistan,s future or economy and progress.