Search

x
Join our whatsapp channel for News Updates

Diaspora remittances help Pakistani families send 450,000 children to school

06:14 PM | 9 Jan, 2019
Diaspora remittances help Pakistani families send 450,000 children to school
ISLAMABAD — New research from the digital money transfer service WorldRemit shows hundreds of thousands of Pakistani children are in school, have access to books and educational supplies, and are more likely to study and less likely to work due to international remittances.

Pakistan is one of the top 10 remittance recipients worldwide and received $21 billion in remittances in 2018.

These findings were calculated using data from UNESCO, the World Bank, and Pakistan’s latest national household survey. Approximately 220 million children in low and middle-income countries are not in school around the world. Of these, 19 million live in Pakistan, one of the highest numbers of out-of-school of children in the world.

Key results include:

  • 450,000 children in Pakistan are in school as a result of receiving international remittances

  • School-age children in Pakistan are 40% less likely to attend school if their household receives remittances

  • Remittance-receiving households spend more on education — equivalent to a child’s set of school-books for the year

  • Children in remittance-receiving households spend less time working on non-school activities, freeing up more time for school studies


WorldRemit also calculates that globally, if traditional, cash-based money transfers were replaced by lower-cost digital alternatives, an additional $825 million would be unlocked for families to spend on children’s education. Savings from "going digital" could pay for the equivalent of 20 million school uniforms, 30 million school books and 16 million sets of school supplies for children in low and middle-income countries.



Hamza Islam, Country Director, Pakistan, at WorldRemit said, “As millions of children in Pakistan go back to school this term, our research is a timely reminder that the contributions of the diaspora are vital to the education of 450,000 children across the country. Switching to digital remittances would help maximise that even further. With global remittances predicted to rise in 2019, this means even more children are set to benefit.”

WorldRemit is one of the leading digital money transfer companies for the Pakistani diaspora. Customer surveys reveal that education is one of the top priorities for Pakistanis living abroad, with many saying they support the schooling of children back home.

WorldRemit customers complete 1.3 million transfers every month from over 50 countries to over 145 destinations.

Visit the WorldRemit website for more information on how to send money to Pakistan with just a few taps on your phone. We have also created a micro-site for readers to find out more about the research WorldRemit has conducted around the impact of remittances on education.

The writer is a member of the staff. He can be accessed on Twitter @iamnozair

Advertisement

Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 14 April forex rates

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 14, 2024.

US Dollar rate in Pakistan

On Sunday, the US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 14 April 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 299.95 302.9
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.45
 
76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86
 
1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter