Pakistan Remittance Initiative is helping exert downward pressure on costs of making remittances to South Asia, says WB.
There is much debate if the growth is pure remittances or taking advantage of whitening the money (in Pakistan is inward remittances, when converted to Pakistan Rupees) become tax-free. Many pundits claims, people are sending their undeclared money outside Pakistan and bringing it back in the form of remittances to whiten it, i.e. make it legal and obtain tax-free status on it.
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This page was last updated on April 15, 2014.