According to a latest report the remittances sent home by overseas Pakistani's have now crossed US $ 10 billion for the first time in our Country's history.
A recent report suggests that most of these remittances were spent on consumption(62%)while some(35%) were either invested or saved by immigrant families.
These remittances have not only helped in reducing the current account deficit but also reduced debt burden,improved debt servicing ability and also decreased the need for expensive foreign loans which are sometimes linked to political expediencies.
The government should,therefore,regulate economic policies,specially trade related in order to open up the economy and utilize these funds in a most beneficial way and to have lesser and lesser reliance on expensive foreign loans.
Any suggestions ?
A recent report suggests that most of these remittances were spent on consumption(62%)while some(35%) were either invested or saved by immigrant families.
These remittances have not only helped in reducing the current account deficit but also reduced debt burden,improved debt servicing ability and also decreased the need for expensive foreign loans which are sometimes linked to political expediencies.
The government should,therefore,regulate economic policies,specially trade related in order to open up the economy and utilize these funds in a most beneficial way and to have lesser and lesser reliance on expensive foreign loans.
Any suggestions ?
