Pakistan sees surge in home remittances
December 22nd, 2011 - 1:01 pm ICT by IANSIslamabad, Dec 22 (IANS) Home remittances to Pakistan have significantly increased following tough and effective action against money laundering, said Interior Minister Rehman Malik.
Malik Wednesday said that home remittances surged from $4.6 billion to $11.2 billion in the last three years.
He said that illegal transfer of money has considerably declined, giving boost to home remittances through banks, reported Associated Press of Pakistan.
He added that money changers have completed the $1 billion target for the year and voluntarily chosen the target of $2 billion for next year.
According to an estimate, there are seven million Pakistanis living abroad.
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Tags: 1 billion, banks, effective action, illegal transfer, interior minister, money changers, money laundering, pakistan, pakistanis, rehman malik, remittances, target