AG replied on Monday, September 26, 2011 02:34 PM
Qaiser Ayub.
!. Pak. economy will not be much affected by recession in North America & Europe because Pak exports to these areas are agriculture based eg. cotton, cotton products, rice,fruits & vegetables which are basic daily requirements & consumers usually do not reduce their consumtion.
2. Pak. banking system/soverign debt has no exposure to the main causes of recession abroad mainly mortagages & non performing loans.
3. Recession/Racial Discrimination etc. abroad usually encourage expats to return & settle in Pakistan for which they remit their savings to buy houses in Pakistan Remittances to Pakistan increased from $ 8 billion (2007) to $ 11 billion (2010).
4. Most of Overseas Pakistanis & a good no. Pakistanis from troubled areas of Pakistan are buying property (Particularly houses)in Lahore to settle there which is the main cause of increase in property prices seen in the last few months.
5. If your savings are in foreign currency you can afford to wait for some time. Otherwise, if your savings are in Pak rupees, you must move now & buy/build your house now because cost of construction is also increasing in Pakistan.
Regards. |
