APBF seeks incentives to boost remittances

The All Pakistan Business Forum (APBF) has urged the government to announce incentives for oversees Pakistanis to check a drop in foreign remittances. The APBF President Ibrahim Qureshi said Friday that the incentives could also help boost investment in the country by the Pakistani expatriates.
He said the current account deficit has expanded to US $591 million in July 2016 due to 20 percent decline in remittances to the tune of $1.33 billion. The oil-rich Arab countries account for almost 65 per cent of the entire remittances by the overseas Pakistani where economic depression has threatened jobs of many Pakistani workers.