KARACHI: Uncertainty in the Gulf region has started affecting Pakistan’s economy on multiple fronts, with a possible slowdown in remittances emerging as a key concern, market sources said.
They said Pakistan was facing among the highest petroleum prices in the region, which had increased the cost of production and transportation, making exports less competitive in the international market.
However, those tracking foreign exchange inflows said remittances could see a slowdown in May and may come under further pressure in the next financial year.
“We deal with the exchange market and the market is getting the feeling that despite Eidul Azha, inflows were not high. Pakistanis usually send higher remittances to celebrate Eid,” said a currency expert.
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