Contribution Of Overseas Pakistanis to Pakistani Economy
At present, Pakistan is going through the worst economic situation in its history, not only on Pakistan at this time Internal as well as external financial institutions also have a huge debt and on the other hand there is a depreciation of the rupee In this case, the only solution is to borrow more to pay off the debt, which will plunge Pakistan further into debt will give. The value of the dollar has skyrocketed and the dollar has become almost scarce. Depreciation of the dollar and appreciation of the rupee The temporary ban on imports to improve has provided temporary relief but Due to this, the industry of Pakistan has suffered a lot and people have become victims of unemployment. The main reason for this Corruption and wrong economic policies are involved in the country. The Pakistani economy is currently stagnant. The main reasons for which
There are floods, balance-of-payments crises and political instability that cause food, gas and petrol The prices have skyrocketed. Inflation rate in Pakistan has reached 29.2% in May 2023. listen In 2023, Pakistan could not achieve the five percent rate of GDP and the rate was only 0.29 percent. The country’s trade deficit also decreased to 25.8 billion dollars, while imports and exports also recorded a decrease. That is, imports decreased to 51.2 billion dollars and exports also decreased to 25.4 billion dollars. In such a situation, when the economy of Pakistan is suffering from disaster, in such a situation, the overseas Pakistanis live in Pakistan They can play an important role in improving the economy and have always done so. About 10 million at this time Pakistanis are living abroad. A large number of Pakistanis live in the Middle East, where they are laborers Later, they live in Europe, Australia, USA and Canada, including doctors, engineers and other educated people.
As everyone knows that remittances from overseas Pakistanis are the mainstay of Pakistani economy It plays an important role in stability. But it was observed that the remittances in FY 2021 were $31.9 billion which that these remittances rose to $31.2 billion in the 2022 fiscal year and a substantial decline in these remittances in April 2023. It has been seen. Remittances by Overseas Pakistanis FY23 By April 2023, it has decreased by 13% to 227 billion dollars.
Money sent by Overseas Pakistan is our second major source of foreign exchange after exports. Overseas Pakistanis send these funds which are A result of his selfless love for Pakistan, but alas now due to the political scenario and his favourites and due to the blind devotion to the leader, this effect has also affected the Pakistanis living abroad, whether overseas Pakistanis Live in America or in Canada, their identity is Pakistan and they know very well that the money they are sending Not on top of any political figure, but the cause of economic stability of Pakistan. Overseas Pakistanis in the local politics of any country they live in By participating and supporting Pakistan on every social platform and clarifying the ideology of Pakistan
Therefore, these Pakistanis are the spokespersons of Pakistan abroad. These geopolitics of Pakistan through various platforms Issues such as the Kashmir issue and the reasons for bad relations with India are well explained. by that time Overseas Pakistanis use different platforms to discuss various regional and international issues of Pakistan are doing a better job than Pakistan’s diplomats in promoting the image of their loyalty to Pakistan and It is proof of selfless love.
