[ad_1]
Despite the Corona epidemic, expatriates sent about 50 percent more remittances in July and August this year than last year. Finance Minister AHM Mustafa Kamal called the growth in remittances an incredible event. He said there has been incredible growth in remittances as incentives and legal remittances have reduced the hassle. The Finance Minister was responding to a question from reporters after a Cabinet Committee on Public Procurement meeting via Zoom Apps on Wednesday (September 2).
He said that the growth of remittances was 50 percent in July and August this year. Last year was the ‘highest profit’ year in terms of remittances. Last year 16 billion arrived in remittances. A 50 percent increase compared to last year – this is an incredible phenomenon. What I got in six months came in two months.
The finance minister said: “We want the total amount of remittance income to reach the country legally.” I did a study on my own initiative when I was minister of planning. The study found that 51 percent of remittances came from legal channels, while 49 percent came from illegally or hundi. From there, I began to think that 100% of remittances should be legalized. So we do two things. One is to provide incentives at a 2 percent rate on remittances. This incentive has worked to increase remittances. And the second is that sending remittances legally used to be very complicated. Several questions were asked, now I have facilitated them. No one has been questioned about remittances in the last year. Nobody’s remittances were affected. That is why so many remittances have flowed.
Mustafa Kamal further said, expatriates are supporting us by earning money with great difficulty. Also, they themselves are getting stronger. I thank you on behalf of the Prime Minister. Because they have begun to legally send their hard-earned money. Send remittances legally. Someday you will reap the benefits.
[ad_2]
