Saudi Arabia; largest source of remittances with over $4.83 bln

ISLAMABAD, Jun 2 (APP): The country has received valuable remittances
amounting to over $4.83 billion during July-April 2015-16 through workforce
in Saudi Arabia, the country which is contributing a major share of remittances.
According to the Pakistan Economic Survey 2015-16, the country received the
inflows worth $3.54 billion from the United Arab Emirates (UAE), registering a
largest increase from any major remittance-sending country during the last nine
months.
Remittances from the Gulf Cooperation Council (GCC) countries and the
United Kingdom reached at $1.97 billion and $2.02 billion, respectively in
July-April 2015-16.
The government is considering different proposals to substantially boost
foreign remittances and foreign exchange reserves. The Gulf region is to be
effectively tapped by exporting the maximum manpower.
The government is expecting good opportunities of manpower export during
the events of Expo 2020 in Dubai. Moreover, massive new construction plans in
Saudi Arabia will also provide opportunities for Pakistani man power.
Like other Gulf States, Qatar stands prominent in offering a number of
incentives to Pakistan due to its regional importance.
As Qatar is going to host the FIFA 2022 World Cup and allocated a huge
budget for this purpose.
It will require substantial infrastructural development where Pakistani
engineers and labour force can effectively play their role in the development
which will not only decrease unemployment rate in the country but increase
remittances.