- Digital platforms, supportive policies and diaspora engagement hold promise for stronger remittance inflows and growth
Interview with Mr Khalid Tawab, former Senior Vice President, FPCCI
PAGE: Tell me about yourself, please:
Khalid Tawab: I am Chairman of Tawab Group of Companies, a renowned name in the manufacturing of paper, board, and steel. I have served as the Senior Vice President and Vice President of FPCCI (Federation of Pakistan Chambers of Commerce and Industry) and the Karachi Chamber. I have been the honorary Consul General of Mozambique since 1989.
In recognition of my outstanding public services, I was awarded the Sitara-e-Imtiaz by the President of Pakistan in 2009. My company has received the FPCCI Exports Awards twice and the International Asia Award once for the highest exports. I am also a philanthropist and a trustee of the Aiwan-e-Tijarat-o-Sanat hospital. I have had the privilege of serving as a Minister in the caretaker government. Presently, I am chairman of Audit and Finance Committee of FPCCI – the most important committee of FPCCI
PAGE: How would you comment on remittances received by Pakistan during this fiscal year?
Khalid Tawab: Remittances remain a strong pillar of Pakistan’s economy, reflecting the dedication of overseas Pakistanis. These inflows bolster foreign exchange reserves and provide crucial family support. With continued promotion of digital platforms and supportive policies, remittance inflows could increase further.
PAGE: Role of banks seems praiseworthy in terms of receiving remittances. What is your standpoint?
Khalid Tawab: Banks have enabled smooth and secure remittance transfers through digital expansion, lower costs, and better accessibility. Their collaboration with global partners and ongoing innovation can enhance their impact even more.
PAGE: How effective are exchange companies for the promotion of official channels for remittances?
Khalid Tawab: Exchange companies have improved access to official remittance channels, particularly in underserved regions. Their networks and competitive rates help curb informal transfers. Improvements in transparency and digitization could boost their effectiveness further.
PAGE: What further must be done to export more and more skilled workforce abroad?
Khalid Tawab:
Training & Upskilling: Align programs with global industry needs (tech, healthcare, renewables).
Diversification: Explore new destinations beyond the Middle East.
Process Simplification: Digitize and streamline emigration through agencies.
Knowledge Transfer: Foster ties between diaspora and local professionals.
Talent Retention: Address brain drain through better compensation and growth opportunities.
Diaspora Engagement: Leverage global Pakistani professionals to create international opportunities.
These initiatives can increase skilled labor exports, enhancing remittances and economic growth.