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Foreign remittance uplift

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SPEAKING in continuation of my previous article, on Pakistan’s brain drain, dated 4th August 2024, it is crucial to shed light on the 10% increase in the foreign remittance of 30.3 billion USD in the last fiscal year from July 2023 to June 2024. Pakistan’s main sources for remittances are Saudi Arabia, Kuwait, the UAE, UK and USA. At such critical times of austerity, it is imperative Pakistan encourages its citizens to bring in foreign income and give the economy the much needed boost.

However, the above can only be achieved and further accelerated by providing the required training to our skilled labour in their respective fields. The world is forever evolving and so is the international manpower with newfound knowledge in their relevant domains. Unprofessional leadership in the public and private sectors, quite often fail to provide the necessary support for skill enhancement programmes.

The education system in Pakistan has always focused more on theoretical knowledge as opposed to practical skills and it is therefore incumbent on each worker to induct the hands on experience to his credentials. In the times of globalisation, when information lies at the click of a button, Pakistani labour must learn to adhere to the norms and standards of the foreign market in terms of expertise, presentation, communication and even hygiene. Our country may lack in providing the required platforms as of yet, in terms of training our labour, but the scarcity can easily be met with by taking the responsibility upon yourself to learn and develop.

On the contrary, if we are to observe the dynamic trends of remote labour based in Pakistan, working for foreign countries, we would realise what a hidden gem Pakistan is for the developing world. We have skilled workforce that is cost effective and English proficient, making it a perfect setting for online hiring. I feel the remote sector must be further encouraged and it is appreciated that the Government of Pakistan gave a blanket tax exemption to freelancers with a 1% final tax.

The future of our country is in good hands as our youth is both intelligent and industrious, and with the right direction from our government, our IT sector can do wonders. IT is one of the fastest growing sectors of Pakistan contributing about 1% of GDP at around 3.5 billion USD. It has not only doubled in the past 4 years but experts expect it to double in the next two to four years. This independence day, Pakistan has embarked on its journey of 78th year and let us all vow to take Pakistan to greater heights, by excelling in knowledge and skill, and truly depicting “you too shall rise from ashes for all is not lost”.

—The writer is contributing columnist.

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