February 09, 2016
Pakistan Businessmen and Intellectuals Forum (PBIF) on Tuesday asked the government to patronise overseas employment promoters which are helping country to earn hefty foreign exchange and reduce unemployment.
Expats are sending around nineteen billion dollars to Pakistan which is a great service to the nation therefore government should devise a strategy to safeguard their interests, he said.
This sector has potential to help turn our economy around but it is neglected due to reasons best known to authorities, said Mian Zahid Hussain, President PBIF, All Karachi Industrial Alliance and First Vice Chairman of the Businessmen Panel.
Talking to a delegation of promoters, he said that economies of oil producing countries continue to shrink due to lower oil prices resulting budget deficit, unemployment and currency devaluation.
Income of some important countries has been reduced by 70 percent while expenses on wars in Yemen and Syria are running into billions of dollars which are being increased.
This situation can take toll on countries dependent on remittances which include Pakistan whose exports are almost half of the imports.
Export sector continue to nosedive despite many various relaxations due to incompetent export managers therefore government should promote overseas employment sector to reduce unemployment and strengthen forex reserves which are under threat.
Manpower export market is contracting thus government and private sector should join hands to find new markets, he said, adding that welfare schemes including pension should be considered for expats on their return.
Mian Zahid Hussain said that the concerned ministry and immigration bureau must be streamlined as both the institutions have become counterproductive while the some law overstepping bodies harass promoters for personal welfare which is poisoning the business climate.