Remittances to reach $11 billion this year

Pakistani expatriates in various foreign counties sent home remittances of over $7 billion during the six month of the current fiscal year, however, the figure is likely to reach $11 billion by the close of the year. Director Bureau of Emigration Rana Matloob Ahmed said this at a seminar on "Socio-Economic development and labour emigration" here Tuesday.
He said that the government was exporting around 4,00,000 labour each year to different countries of the world while during the last 38 years over 5.3 million labour had been exported.
According to the emigration statistics in 2005 to 2010 profession wise over 1.8 million labour exported including 39,371 high qualified, 12,0857 highly skilled, 76,6803 skilled, 21,148 semi skilled and 886,0926 un-skilled, respectively.
He said 96 percent labour was exported to the Gulf Co-operation Council (GCC) which constitutes six counties and four percent to other states. During the 38 year over USA $98 billion remittances received sent by the overseas Pakistanis. The overseas Pakistanis working very hard and playing their due role for the socio-economic development of the country and government taking various steps for their welfare.
Like other developing countries of the region, poverty and unemployment are the serious challenges for Pakistan also. Muhammad Azam of Pakistan Manpower Institute (PMI) said that government was committed to eliminate the poverty, unemployment and other related issues which would be resolved with the help of public.
Due to the fruitful policies of the government, the ratio of remittances was increasing with every passing day which would help further developing the economic situation.
He said overseas migration had been a significant avenue for employment, which was regulated primarily by market forces of supply and demand. Muhammad Azam said the existing policies needed to be evaluated from time to time in the wake of global political and socio-economic challenges. The objective of the seminar was to provide a forum to the participants to discuss the issues and measures relating to migration from different angles.