Report by Engineering Post
Large number of Pakistanis are living and working in foreign countries around the globe and they are making appreciable contributions towards the national economy by sending their families back home through the proper system every month.
According to the latest figures available in this regard, Overseas Pakistanis home r remittances of $ 3.24 billion in May 2024 was the highest monthly contribution showing a substantial 54.2 percent year-on-year increase and a 15.3 percent compared to the previous month i.e. April 2024.
For the first eleven months of the just ended financial year 2023-24m, increased home remittances in varying ratios were received from Pakistani workers in good numbers in the United Arab Emirates (UAE), United Kingdom (UK), Saudi Arabia and EU countries contrary to all expectations of the quarters concerned and are likely to show further improvement for the entire year.
The appreciable surge in home remittances from Overseas Pakistanis was not only owing to Eid ul Fitr but also due to the fact that during the last two years or so, a significant number of Pakistanis have been emigrating abroad to different countries in search of better livelihood opportunities.
According to the available figures, between 2022 and 2023, an average of 850000 Pakistanis were reported to have moved abroad annually compared to an average of 323000 per year between 2017 to 2021.
