Foreign remittances may touch $28b by June end: Farrukh

Staff Reporter

Minister of State for Information and Broadcasting Farrukh Habib on Monday expressed the hope that the foreign remittances would touch 28 billion dollars mark by the end of June.

Addressing a news conference here at the National Press Club, he said the overseas Pakistanis had full trust in the leadership of Prime Minister Imran Khan and that was the reason that they were remitting money through banking channels.

During the first 10 months of the current fiscal year, he said, an amount of 24 billion dollars had already been received.

“Two months still remain and if this [trend] goes on with the same pace, the foreign remittances may touch 28 billion dollars by the end of fiscal year 2020-21,” the minister maintained.

Farrukh Habib said some overseas Pakistanis were reluctant to send their remittances to the country through legal channels as they did not believe in the previous governments.

“They did not send money to the country (during the last regimes) because they knew that their money would be laundered abroad where their [the then rulers’] children were doing businesses.”
As regards the present government’s economic achievements, he said the country’s exports surged by 13.5 per cent.