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Pakistan Requires Foreign Exchange,

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   Amir Khan
Monday, October 27, 2008 05:56 AM 
Reply: >
Dear All,

We all know the current situation of our country, one of the main factor is lack of foreign exchange. We can make a little difference if we transfer some amount(Riyals , Dollars etc) to our bank account in pakistan.

What you need to do is to keep this money in your bank account in Pakistan for a short period of time. Sending money and then spending it would not make any difference. Just keeping it in the bank for at least six months would make lots of difference.
Together WE can MAKE a Difference!

I will transfer SAR:5,000 in my account with a Pakistani bank in Pakistan and would not touch this money for six months. I am sure adding to what you all will be sending, it will Insha'Allah make the difference!
We lose nothing and our country gains a lot....
Pakistan Zindabad Paindabad
:pkf
Sarmad Khan, Sharjah replied on Monday, October 27, 2008 06:07 AM 

Good gesture and need of the time. Indeed, we all earmark some amount for a couple of months and if possible, for years.

Can anyone kindly ask ZARDARI sb, please bring back your billions dollars from overseas banks instead of begging from other countries. If he do so, all overseas Pakistani will follow him.
Real Money replied on Monday, October 27, 2008 06:42 AM 

No need to follow Zardari

Just let him bring half of his money to prove his own sincerity and also just restore the justice in the country.

I assure you that money will rush in the country more that you wish.

So much you would like to refuse some money.

No justice no investment
Naveed Yaseen replied on Monday, October 27, 2008 07:14 AM 

> Sending money and then spending it would not make any difference. Just keeping it in the bank for
> at least six months would make lots of difference.

Avoid keeping it in bank. The purpose of easing forex pressure would still be served 100% without keeping in bank (or even without bank being in equation).

Rather than keeping it idle in bank, cash, gold or other unproductive assets, invest it where it generates employment and utilizable economic value in efficient way.

The later option, besides being better for society, is statistically likely to get you better profit.
ASAD replied on Monday, October 27, 2008 07:28 AM 

yesterday i transfered DH20000. to may MCB A/C.
AKHTAR replied on Monday, October 27, 2008 07:33 AM 

Pakistan Zinda Bad

I have transferred US$ 5000 to my ABL A/C.

Tell to ZARDARI / CDA a open a new sector near chack Shazad / i-12 same as DHAI overseas block at same rate for overseas pakisitanies instead of his politician fellows?

THEY WANT SUCK BLOOK OF OP THEY WILL NEVER GIVE OP FAVOR?
Habib replied on Monday, October 27, 2008 08:52 AM 

I think at present pakistan only can export "brains", And it not shameful, We just need to do little maintinance of our educational systems like introducing GMAT GRE IELTS and USMLE type, of poers in ou exams and Improve Bit of english during professional education. Encourage maximum professional to Gulf and other satates. Give them Long ex Paksiatn renewable leaves [as i know 90% people dont come back to Join in Govt service if they spend 3,4 ys abaroad, but when they are leaving they want to keep Govt's job option open], Let people open Private Medical colleges, nursing colleges and eng colleges but keep an eye on Standarad.
.Meanwhile Govt should give options to overseas people to invest in Industry like Govt can act as middle man or Guranteer, paying Mininum this much and Max this much dividend, Like Sukuk Bonds.
Govt should also Float sahria Compliant account in national savings. Honestly I want to invest in similar account but Think new Islamic Banks in pakistan are not as safe as Govt's backed accounts.
These things can be done overnight. No long Planning and infrastructure is needed.
Amir Khan replied on Monday, October 27, 2008 10:15 AM 

Introducing GMAT or IELTS will not serve 75% of pakistanis who live in villages, this is not the issue now. Our contry don't have reserves to purchase oil after 2 months and Saudi has already refuse to provide oil on credit because they don't trust/like Zardari(we know how he keep his promises).

Also, to get foreign investment we should have free judiciary system to get foreigners trust.

Once Bill Gates visited UAE for investment porpuse. UAE ruler asked Gates "are u willing to invest". Gates asked the UAE ruler "in your country can i Sue you if something goes wrong" the ruler said "No Way" and from that response Gates refused to invest.
Nasir replied on Monday, October 27, 2008 11:01 AM 

Long Live Pakistan.

I just transferred 55,000 SAR to my UBL account in Pakistan and I will make sure that I trasfer same amount within a week.

May Allah save our country.
Way to earn forex replied on Monday, October 27, 2008 12:05 PM 

Zardari was then charged with blackmail, for having allegedly tied a remotecontrolled bomb to the leg of UK-based Pakistani businessman Murtaza Bukhari and then ordering him into a bank to withdraw money from his account.
http://www.tehelka.com/story_main40.asp?filename=Ne200908CoverStory.asp
HBM replied on Monday, October 27, 2008 12:08 PM 

A couple of weeks ago I learned through some senior bankers that the SBP was allowing the transfer of huge amounts of US$ of one unnamed person to the UAE. Obviously, it doesn't take a genius to figure out who that person is.

The brotherly nations whom we look towards - with desperation and a feeling of entitlement - will have enough sources/intelligence to find out what's going on. That is why they are not extending any help: because beggars in silk suits with $bln bank balances aren't very effective at making a case for aid.

It is about time we get our priorities right and stop living beyond our means. Actually, most of us don't but the army and the politicans have been doing so on our behalf.

I haven't been able to figure out what (further) tragedy would befall us if the country actually defaulted?
Ali3 replied on Monday, October 27, 2008 12:17 PM 

Mashallah! This is the best post i've read. Thank you Mr. Amir Khan! (and Mr. Nasir, Mr. Akhter, and others who have followed the advise). You have started already something with actions rather than just lots of words (like me). May Allah grant you Kalma at time of death, May Allah grant you Jannat Firdous.

I am not an overseas Pakistani, but i've always written about the honesty and purity of overseas Pakistanis. I think it's time for the overseas Pakistanis to enter politics in Pakistan. Not just talk, or small help here and there, but in a big way.

Yes, it doesn't matter if the money stays in the bank, but it should come through the banking channel. Also, it's better to start productive activities rather than invest in open lands. There are many profitable venture from which you can benefit too, employment can be generated too and country will benefit too.
Amir Khan replied on Monday, October 27, 2008 01:20 PM 

I would like to request Website Admin. to promote this discussion and put this post on top.

Almost 4 million pakistanis live abroad, if every person sends 300 dollars that will become 1.2 billion USD.
real observer replied on Monday, October 27, 2008 02:00 PM 

Dear All,
I have 45,000 euro and 10,000 dollers in Allied Bank Mardan and last 2 wks many people told me to withdraw them but i did not and even i send 60,000 SAR last wk.Dont listen to people and help pakistan .
chamo replied on Monday, October 27, 2008 02:45 PM 

I would love to do so provided our leaders set some example in this concern first.Let these so called leaders declare openly today that they are bringing all of their money back to Pakistan, and once they do it, there will be a flood of remittances flowing towards Pakistan.Gesture that friends have shown here is commendable and indicates how much we love our country but its only the occupancy of insincere, untrustworthy and corrupt leadership that makes our feelings bitter for our copuntry.
Salam replied on Monday, October 27, 2008 04:39 PM 

I'm wondering few months back we had about 20$billion in forex reserves but we failed to capitalize on them and now what difference 1.5$billion are going to make?
We don't have any system in place to control the flight of forex from the country. Than why should we naively send money for a purpose which seems impossible?
I can send USD to Pakistan but only if govt. proves they are serious on curbing transferring of forex from Pakistan to Dubai.
I would also like to have tax exemptions against my capital, which I have earned abroad. I'm even willing to furnish my salary slips duly attested from concerned Pakistan embassy.
All foreign investors get tax exemptions, VIP treatment and on top of that they are allowed to take their profits out of country. What is the incentive for overseas Pakistani?
abj replied on Tuesday, October 28, 2008 03:50 AM 

Great idea. I have asked my brother to deposit the money from the sale of my car into my mcb account rather than transferring it to me. I will be transferring a certain dollar amount every month going fowrward to my MCB acct.

I have forwarded the idea to all Pakistani friends I have email addresses for, and have requested them to do the same, and to request others as well thru all available channels.

Unlike my other friend, I donot expect VIP treatment from the govt, no assurances or any guarantees, for depositing money in my own bank account that remains my money before and after, but this act will go towards a bigger cause. Its really not a big deal individually, but can bring the country out of financial crisis.

How can we get this idea out to the expats? I know a lot of expats visit this forum, but a lot others dont. Can the media help? ARY< GEO<, Shoakat Kahnum's mail list, Pak Embassy's list etc? Maybe if enough people email to these 2 channels, they can come up with clips during after talk shows etc. Please share ideas.
Syed Mansoor Ali replied on Tuesday, October 28, 2008 06:56 AM 

To all

I have gone through all messages from my overseas Pakistanies and appreciate their interest in the wellbeing and welfare of pakistan, factualy speaking though it is beneficial to send foreign currency through normal banking channels and keep the same in bank for some time yet it would be more beneficial to the nation to put the amount in some business activity, putting the amount in business activity not only gives employment to some one which helps your countryman to abstain from begging profession but it will also activate the present dullness of business activity in pakistan.it is my suggestion to my fellow overseas pakistanis to please direct their family members in pakistan to take part in some business acitvity rather to expend the hard earned money on no-productive acttivities.

thanks
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