ISLAMABAD, Pakistan: As many as US$ 58,890.81 million remittances were sent by Overseas Pakistanis during the last three years, the Finance Minister Asad Umar told the Senate.
In a written reply to a question by the Senator Muhammad Talha Mahmood in the Upper House, Asad Umar told that in FY 2015-16, Overseas Pakistanis sent remittances amount to US$ 19,916.76; in FY 2016-17 US$ 19,351.40; and in FY 2017-18 US$ 19,622.65.
The finance minister said that it is encouraging to note that after a moderate growth during last three years, remittances witnessed a strong growth of 13.14% in the first quarter of FY 2018-19 to US$5.42 billion compared with US$4.79 billion in first quarter of FY 2017-18.
To another question, Asad Umar told the House that during FY 2017-18, the Ministry of Finance/State Bank of Pakistan/Pakistan Remittance Initiative (PRI) have taken various measures for increasing remittances during yesteryears.
Some of the major steps taken are as under;
- Mobile Wallet Scheme
- Marketing/Awareness Campaign
- Improvements in Payment System Infrastructure
- Pre Departure Briefings
- Increase in Outreach
Asad Umar also told the House that a total of Rs 16,124 million has been received through auction and disposal of goods confiscated by Customs authorities during the last five years.
The minister said that the government is making its all-out efforts to tackle with the issue of smuggling through concerted efforts.
