The backbone of economy

Editorial Jul, 17 2023
The backbone of economy
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Overseas remittances by Pakistanis are the backbone of the economy. According to a report, around 200 million people around the world send remittances to their countries, from which around 800 million people benefit.

According to the World Bank, last year, the volume of remittances around the world reached 626 billion dollars. During the financial year 2022-23 in the economic crisis, the flow of remittances to the beloved country was at the lowest level of three years at 27 billion two million dollars.

Due to this, in the last fiscal year, this volume was 31 billion 27 million dollars, thus the government faced a decrease of 13.6% in this term. This alarming situation cannot be taken to mean that overseas Pakistanis have reduced the amount of money they send to their loved ones back home.

There has been an increase which benefits non-governmental sources. Because the value of the dollar is higher in the open market than interbank.

The number of Pakistanis residing in Saudi Arabia is the highest among the remitters, but during the fiscal year ended June 30, it also saw a decrease of 17 percent, the rate of decrease in the United Arab Emirates was 19 percent, and the United Kingdom was 8 percent.  There  was 11.5 percent decrease from the Gulf countries and 7 percent less from the European Union. According to sources related to the currency, the incentive of 20 to 25 rupees per dollar to the remittance senders by the people sitting in the gray market is causing a deterioration in the situation for the government which should be realized immediately and the black business of dollars which parallels it. has taken status, its discouragement is however necessary bodies major factor taking overseas Pakistanis into confidence is top.

It may be mentioned here that quite a good number of overseas Pakistanis are working on high positions around the world and they earn quite good earnings. The Pakistani doctors working abroad are among the highest paid medical practitioners The annual convention of the organization of Pakistani-origin doctors in the United States "APNA" was held at the most expensive hotel in Dallas, Texas, Gillard Texan Resort. All the rooms and tickets for the musical dinner night were sold out before the convention even started. And it was held in a befitting manner.

As reported in the media, over five hundred stalls of apparals, clothes, jewelery , fashion accessories and other items were set up in the convention hall, where over three thousand doctors and their families members and near and dear ones made extensive purchases, which speaks volume of their earning through hard work abroad. But the good thing is that they are equally involved in charitable work. Apart from the Pakistani ambassador, some wealthy Pakistani-Americans also attended the convention and announced donations for children's scholarships and other charitable works.

 APNA members have been engaged in various charitable works not only in America but also in Pakistan for years, besides lobbying for their homeland in the US government and Congress very effectively.

Off late some anti-Pakistan elements  have gone to the extent of anti-Pakistani nationalism to the extent of misleading political workers by telling fabricated stories on social media and trying to create an atmosphere of hatred and lawlessness against the government and institutions. But the majority of the people abroad have realized the anti-national intentions of these people and refused to be a part of this hateful campaign. At the same time, some unscrupulous people have been trying to mislead Overseas Pakistanis to stop sending foreign exchange to their homeland so that the country would become economically bankrupt and get rid of the current government. Overseas Pakistanis also foiled this conspiracy of foreign agents against the integrity and economy of Pakistan.

Overseas Pakistanis whether they are doctors, engineers, IT experts or ordinary taxi drivers all love their homeland and their loved ones immensely.

They know that the governments keep changing and sometimes they get angry with their rulers, but their connection with the soil of the homeland never ends.

Pakistani students study during the day and work at night while studying abroad because they don't want to burden their parents.

 Common workers in Europe and the Middle East toil day and night but still pay for their parents' treatment, siblings' responsibilities and children's education.

 The current and former governments of Pakistan have made many promises while acknowledging the services of overseas Pakistanis, but have not done anything in practice. When the Overseas Commission was formed in Punjab to redress the grievances of Pakistanis abroad, its working did not prove useful as proper attention was not paid to it and then the usefulness of this institution ended.

Privileges should be given to Pakistanis living abroad to return home after a specified period. Investments of overseas Pakistanis should be facilitated and protected, government housing schemes including DHAs should have overseas quota where they can buy plots, flats or houses with easy installments. The fees charged to the children of Overseas Pakistanis in higher educational and professional institutions should be reduced. Pakistanis living in different countries should be represented in the Assemblies and Senate of Pakistan in proportion to the population. Heads of overseas and overseas active organizations who have rendered services to the country should be given VIP status and invited to national days and events.

Overseas Pakistanis love their homeland and they can go to any extent to rescue their country from economic crisis, but for that we need to identify to them the ways on how to contribute in a useful manner.

NC Desk
NC Desk https://www.dailynationalcourier.com/author/nc-desk
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

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