LAHORE - The Pakistan Economy Watch (PEW) has expressed concern over increasing remittances saying it may not be a very good sign for economy. The figures of State Bank of Pakistan claim an increase of 19 per cent in remittances in the ten months of current fiscal over the corresponding period. The claim of central bank is astounding as whole world is facing deep recession, Arab are uneasy over reduced oil prices and collapse in housing boon. Millions have lost jobs and thousand of businesses have been closed in every country, said Dr Murtaza Mughal, President PEW. He said, Pakistanis working abroad are not immune to these developments. According to a recent report, the world is facing a drop of around $700 billion in remittances. In such a situation, we should not feel very happy about increasing remissions. Pakistanis abroad may be transferring more money because of record inflation at home. However, it is possible that many have lost jobs and closed down businesses. They might be coming back after winding up everything and bringing all savings with them. This may have caused a surge and remittances may rapidly decline after few months. The issue of massive brain drain owing to political uncertainty should also be taken into account, said Mughal. Mere jubilations may be momentary. Reasons behind persistent increase in the remittances should be probed thoroughly to know that it is a pleasing development or otherwise. Lack of proper data on labour export also helps keep things vague.