Pakistan has long benefited from remittances that its overseas citizens send back home. Now Imran Khan wants to double the amount of foreign currency inflows in order to shore up foreign exchange reserves.
The prime minister announced Friday that his government would announce a “special package of incentives” for overseas Pakistanis so that they may send remittances through banking channels.
He vowed to remove obstacles, setting his eyes on a massive increase in remittances from the current annual $20bn to at least $30bn.
InshaAllah by removing these hindrances we will be able to increase remittance flows from $20 bn to at least $30bn & perhaps even $40 bn through banking channels. https://t.co/rDv8XuXgyS
— Imran Khan (@ImranKhanPTI) October 12, 2018
“The Philippines did this successfully,” he cited in a Twitter message.
In another tweet, Khan said his government would ease immigration processes for the overseas Pakistanis and also protect their investments from land mafia.
We are also moving to remove hassles Overseas Pakistanis confront at immigration when they come to Pakistan. Our Missions abroad have also been directed to look after and deal effectively with the concerns of our Overseas Pakistanis. https://t.co/3wSCzpOcxK
— Imran Khan (@ImranKhanPTI) October 12, 2018
The Khan government, confronted with many troubles at the start of its term, is trying to fix the national economy. Pakistan has also formally requested an IMF loan to stop a dangerous decline in foreign exchange reserves. The problems Khan has inherited after his party’s July 25 election victory have been mounting.
