What To Consider If You Want To Send Money To Pakistan?

Are you considering about sending money to your homeland, Pakistan? or as a migrant who wants to send money to Pakistan for buying a residential property for your family? Then you might be interested in getting acquainted with some pros and cons. Let’s discuss them in this article.

ACE And Bank Alfalah Partnership- Paving The Pathway For FDI

ACE Money Transfer has also partnered with bank Alfalah for allowing the local investors an easier way out for money transfer across the globe. Bank Alfalah is a leading banking sector of Pakistan. ACE provides excellent remittance services which are handled at the best receiving ends of Alfalah bank by customers.

ACE charges minimal transaction fees from the customers and allow them to make a transaction without having to worry about significant changes. Instead, they focus on the quality of services in terms of rapid, reliable, and easily under stable money transfer to Pakistan and other countries.

FDI Rising Potential In Pakistan

Foreign direct investment (FDI) in Pakistan has increased in the past few years, as indicated by UNCTAD’s 2020 World Investment Report, A few factors attached with this enhanced FDI may include chances investments in the form of CPEC and other projects in Pakistan.

Apart from China, certain other countries like European countries, the United Kingdom, South Korea, and Japan, Malaysia, and other southeast Asian countries have also stepped up their investments in Pakistan.

These FDI reports may represent Pakistan as a potential attraction for investors around the world. The system is improving with time albeit very slowly, due to the depriving conditions of challenging security environment, electricity, and water shortages, and a burdensome investment climate at the economic end. Thus, there may arise a specific consideration that must be kept into account for short term and long-term investment in Pakistan.

Strengths for Investment in Pakistan

• A wider population network, with millions living abroad predicting business success
• A wide numbered workforce abroad helps out in maintaining remittance and currency inflow of the country’s economy.
• Growing GDP rate and FDIs year wise
• A recent governmental policy in favour of FDI with numerous privatizations.
• A long series of tax incentives and a warrantee for the equal treatment of foreign and local investors in Pakistan
• Financial and logistic support provision from the US and IMF.

Weak Points for Investments in Pakistan

• Significantly rising security threat in the form of the terrorist organization operating on inside and across the borders.
• Strategic regional position and role in Afghanistan
• The rising degree of corruption, especially regarding government procurements, customs, and taxation services.
• Low fiscal and developmental sources
• Sensitivity to climates changes, and high vulnerability to natural disaster and its afterword’s economic impacts.

Measures Taken For Better Future Investments

However, to overcome these foreign investments limiting factors, the government of Pakistan has taken various measures. Such as trade liberation and privatization under CEPC, to get connected with the world-leading economy of China.

Other such acts of economic liberalization have allowed Pakistan to stand at the 08th position among 190 countries of the world in the World Bank’s 2020 Doing Business Report. Moreover, the money transfer services like ACE money transfer and various others have also contributed significantly to attracting foreign investments to Pakistan.

Are you interested in sending or receiving the money to your acquaintances in Pakistan? Avail the services of Ace money transfer and bank Alfalah to fulfill your financial needs.