Atif Mian Criticises Pakistan's Reliance on Remittances
The Princeton economist says the system benefits powerful elites while many Pakistanis have to work abroad.
Princeton economist Atif Mian has criticised Pakistan's reliance on overseas workers' remittances. Atif Mian argues that the system benefits powerful elites while many Pakistanis are forced to seek livelihoods abroad.
He put a size on that dependence. Remittances are close to 10% of Pakistan's GDP and nearly equal to the country's exports.
What Atif Mian said about the rupee
Mian says an overvalued rupee can hurt exporters while benefiting those who profit from real estate and imported goods. He called for policies that strengthen exports and create better opportunities at home, so fewer people have to leave to earn a living.
Our verdict
His point is not that remittances are small. They are close to a tenth of GDP and nearly as large as exports. The criticism is who gains, and his alternative is stronger exports and better work at home.
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Frequently asked questions
Who is Atif Mian?
He is a Princeton economist.
How large are remittances, in his account?
Close to 10% of Pakistan's GDP, and nearly equal to the country's exports.
What does he say an overvalued rupee does?
It can hurt exporters and benefit people who profit from real estate and imported goods.
What policy did he call for?
Policies that strengthen exports and create better opportunities at home.
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