The high transaction cost on remittances amounts to an additional tax on cross-border movement of incomes. For 2023, roughly $41 billion was spent on just transaction costs.
This is the first such for the South Asian nation that is the world's biggest recipient of remittances. Transfer of funds will now be possible using just mobile phones.
Despite growing passenger volume, 11 out of 14 carriers reported losses in 2023-24. IndiGo recorded profit of Rs 8,167 crore, which reduced to Rs 7.253 crore in 2024-25.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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