KARACHI: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said remittances are increasing due to positive policies of the government and timely initiatives of the central bank.

Pakistan has climbed to the sixth position in the list of countries receiving remittances providing budgetary support to the government while it will become the fifth country receiving the highest volume of remittances by the end of the year due to the initiatives of Finance Minister Shaukat Tarin, he said.

Mian Zahid Hussain said that coronavirus has damaged the economies of all the countries but Pakistan is receiving higher amount of remittances beating forecasts of local and foreign experts.

Talking to the business community, the veteran business leader said that remittances have increased by 29 percent from July to April from the corresponding period to reach 24.2 billion dollars while the remittances during the month of April remained 2.8 billion dollars, an increase of 56 percent over the last year.