He said remittance growth was 50 per cent in July and August this year. Last year was the highest ‘earning’ year in terms of remittances. Last year, 16 billion in remittances came. An increase of 50 percent compared to last year — this is an incredible phenomenon. What I got in six months has come in two months.
The finance minister said, "We want the entire amount of remittance income to come to the country in a legal way." I did a study on my own initiative when I was the planning minister. The study found that 51 per cent of remittances came through legal channels, while 49 per cent came through illegal or hundi. From then on, I started thinking that 100% of remittances should be legalized. That’s why we do two things. One is to provide incentives at the rate of 2 percent on remittances.
This incentive has worked to increase remittances. And the second is that sending remittances legally before was very complicated. Various questions were asked, now I have made them easy. No one has been questioned about remittances in the last one year. No one's remittance was hit. That is why so much remittance has flowed.
Mustafa Kamal further said, the expatriates are giving us support by earning money with great difficulty. Besides, they are getting stronger themselves. I thank them on behalf of the Prime Minister. Because, they have started sending their hard earned money legally. You send remittances legally. One day you will get the benefits.
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