Remittances from overseas Pakistanis will increase to over $5 billion in the current fiscal year against $4.62 billion last year, Labour, Manpower and Overseas Pakistani Minister Ghulam Sarwar Khan said. Last year the remittances were a quarter of exports of $ 16 billion, he told the reporters. In the year 1999-2000, the remittances were less than $1 billion. About 7.5 million overseas Pakistanis live in the United States, Canada, Europe, Middle East and Far East. In the first six months of this fiscal year they sent $2.6 billion as foreign remittances. Khan said the Investment Conference of Overseas Pakistanis organised by his ministry will be held on March 5-6. The conference will provide the overseas Pakistanis an opportunity to interact with local entrepreneurs and look for new investment opportunities in the country. The minister said the overseas Pakistanis intended to invest $ 500 million in power sector, $ 472 million in dairy development, $ 196 million in construction and $ 66 million in information technology. The minimum investment for each project will be $ two million, he added.
