
ISLAMABAD: Pakistan has become the fifth largest remittances recipient developing country in 2011, witnessing a strong growth of 25.8 per cent during the last year in 2011 compared to the 10.1 per cent growth in South Asia remittances.
The upward trend in remittances, during the period under review, was derived from a per annum average growth from UAE of 32.2 per cent followed by United Kingdom 30.1 per cent, Saudi Arabia 27.3 per cent, European Union countries 25.3 per cent, other GCC countries 15.1 per cent and United States of America 9.5 per cent from 2007-08 to 2010-11, states a document issued in Economic Survey of Pakistan.
During July-April 2011-12, workers remittances grew by 20.2 per cent and stood at $1.83 billion 10.9 billion. The cumulative increase of $1.83 billion during July-April 2011-12 over the July-April 2010-11 is largely attributed to the government efforts to divert remittances form the informal to the formal channel.
Since the launch of the Pakistan Remittances Initiative (PRI), the share of workers remittances coming through the banking channel has increased considerably from 75 per cent in 2009-10 to 91 per cent in 2011-12.
The World Bank estimated that the flow of remittances to developing countries in 2011 increased by 0.8 per cent from $ 325 billion 2010 and is expected to grow at seven to eight per cent annually till 2014.
Comments: Here's my previous thread of remittance. THREAD . Recently I bumped into this long report on Remittance Survey of Pakistan which helped me understand the breakdown by country much better. Notice most of the money comes from KSA and UAE, 2 countries that DO NOT allow citizenship to foreign citizens. So almost all those foreign Pakistanis in KSA and UAE sending money to Pakistan, are in these countries alone while their families are in Pakistan. These Pakistanis are NOT settled there. Majority are doing labor work to send money back to their families who couldnt join them.
Now coming to Gilani's "Why dont they leave then" part. You see Mr Gilani, when you say remittance are growing, it means more and more Pakistanis are leaving for UAE and KSA to perform slave labor and send money back, money which helps pay for your suite and that very trip to London. You see Mr Gilani, Pakistanis have been doing what you asked - "Why dont they leave". You see Mr Gilani it is actually you and (not) your seed who are sucking on those who have left Pakistan while you continue to insult them.
My family hates it when I ask for someone's death. So I'll refrain from that. Lekin Allah Zardari/Gilani ko hidayat de... apne paas bula ker.
Folks! Next time you hear this news "Remittance grew". Remember, it only means more Pakistanis have left Pakistan.