Cash gk
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- Sep 20, 2015
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Pakistani American doctors
Pakistani American doctors
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Pakistani army generals have more cards to play than wealthy Pakistani Americans
Yes and no—it's a double-edged sword. On one hand, there's an increase in funds flowing into the country from remittances due to inflation, which is providing financial support for struggling families. We've been able to assist several outsider families who lost their main earners due to COVID within the locality in Gujranwala and Sahiwal. However, the real issue is that the real estate sector, which received a significant boost from remittances, is now experiencing a downturn. Instead of being invested in real estate, funds are mostly being kept in banks or used to purchase CDs to earn interest income.
Despite their card-holding advantages, they have ultimately lost in the long term. A branch of my family is involved in real estate development, and for over two years, they have been holding onto undeveloped land, resulting in financial losses due to the rapid depreciation of the foreign exchange rate. My family personally has lost 40% of our wealth if we convert to dollars we sent over the last several years.
The real estate investments are crazy. They are doing more damage to Pakistan than benefit in the long run. The loss of money due to currency depreciation is called foreign currency risk
I agree; I'm not big on real estate per se and prefer diversification of assets. All real estate does is preserve wealth but doesn't build wealth as industries and other small businesses do
it is easy to preserve wealth in the US. I believe investment in Pakistan is driven by greed or need for social status. A million dollar palace is easier to show off than a Fidelity brokerage account
The sooner Pakistanis living Aborad realise that the change within pakistan can only happen from the outside pressure, because of various reasons including the asset base and future commitments of settling in a western country, the better.