18 February 2OO3
Last week an Indian government study has disclosed that all of sudden there is a drastic cut of Indian Keralities savings in their accounts due to a slight reduction in profit rates introduced by Indian government. In Pakistan each mouth worth of his salt is showing his cheeks that so much remittances are coming from OPs and it is being attributed wrongly to good economic policies whereas this sudden inflow is a temporary phase due to international circumstances. The future can be seen from just a one example that international experts from governments last year agreed in UAE that “Hundi/Hawala” system was a need for certain quarters following which UAE authorities have recently desired Hundiwalas/Hawalawals to keep a proper record of their transactions and has apparently not desired them to stop completely their Hundi.
Government recently, in the words of a very prominent intellectual writer “acting as Hatim Tai” has announced 2% higher profit on national saving schemes to old pensioners. Practically this is not 2%. Since Overseas Pakistanis coming back permanently on transfer of residence or on expiry of their contracts are also like pensioners (and some are really pensioners from middle east governments] such Overseas Pakistanis should also have the right to get Pensioners 2% higher rate recently introduced in National Savings.