Job promoters can save country from default: PBIF

Pakistan Businessmen and Intellectuals Forum (PBIF) on Tuesday asked the government to patronise overseas employment promoters which are helping country earn hefty foreign exchange and reduce unemployment. Expats are sending around nineteen billion dollars to Pakistan which is a great service to the nation therefore government should chalk out a strategy to safeguard their interests, it said.

This sector has potential to help turn our economy around but it is neglected due to reasons best known to authorities, said Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance and First Vice Chairman of the Businessmen Panel. Talking to a delegation of promoters, he said that economies of oil producing countries continue to shrink due to lower oil prices resulting in budget deficit, unemployment and currency devaluation.

Income of some important countries has been reduced by 70 percent while expenses on wars in Yemen and Syria are running into billions of dollars which are being increased.

This situation can take toll on countries dependent on remittances which include Pakistan whose exports are almost half of the imports. Export sector continue to nosedive despite many various relaxations due to incompetent managers therefore government should promote overseas employment sector to reduce unemployment and strengthen forex reserves which are under threat.