Remittances down on changing policies in KSA, Oman, Bahrain

2018-09-07T02:59:29+05:00 APP

ISLAMABAD - The overseas workers' remittances inflow from Saudi Arabia, Bahrain and Oman registered decline during the period of July-March on year over year basis (fiscal year 18 over fiscal year 17) due to the change in fiscal and labour policies in the respective countries.

According to an official source, the overseas workers from Saudi Arabia sent remittances of $3,690.57 million during the FY18 as compared to 4,078.11 million during FY 17, registering decrease of 9.50 percent.

Overseas workers from Oman sent 504.85 million during FY 18 as compared to 574.03 million during FY 17 with decrease of 12.05 percent while from Bahrain, the country received 285.70 million US$ in comparison with 290.47 million with decrease of -1.64 percent.

The Gulf countries including United Arab Emirates (UAE), Kuwait and Qatar witnessed upward trend in remittances sent by overseas Pakistani during the same period.

Workers in UAE, Kuwait and Qatar sent 3264.73, 580.06 and 277.52 million US$ during the FY 18 as compared to 3143.21, 568.09 and 274.87 million US$ during FY 17 respectively, registering year over year growth of 3.87, 2.11 and 0.96 percent.

Home remittances inflow from United States of America and United Kingdom has also shown increase by 12.03 percent and 22.45 percent on year over year basis (FY 18 over FY 17), the official source said.

The workers from USA and UK sent 1948.00 and 2030.62 million US$ during FY 18 while 1738.84 and 1658.34 million US$ were sent during the FY 17.

Commenting on decrease in remittances from Saudia Arabia, Oman and Bahrain, former chairman Board of Governors, Overseas Pakistanis Foundation (OPF), Barrister Amjad Malik said Pakistani workers in these countries are suffering due to change in their labour policies and many of these have returned to their country after disappointment.

He said overseas Pakistanis have been given the right of vote which is a good development however they are expecting from the new government to introduce reforms in this sector and explore more labour markets in other countries where they can get employment and earn good income.

Overseas Pakistanis are well-wishers of their country and rendering great contributions to the national economy through sending remittances. “They always keep ready to bail out the country in difficult times so they must be given facilitation and patronage by the government”, he said.

 

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