Initiative helps bring down costs of remittances

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Pakistan Remittance Initiative is helping exert downward pressure on costs of making remittances to South Asia, says WB.

Faisal Khan‘s insight:

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.

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