ANALYZING THE PATTERN AND RELATIVE IMPORTANCE OF REMITTANCE SOURCES OF PAKISTAN

Remittance is the migrant's money and is the essential financial resource for the left behind family members. It is the most import financial resource for many under developed and developing countries. Individuals, families and even economies heavily rely on this financial inflows. Pakistan is one of the remittance receiving country and its economy is dependent on this flows. The objective of this theoretical paper is to analyze the pattern and relative importance of remittance sources of Pakistan. It is evident from this paper that Gulf Cooperation Council (GCC) countries are the major sources of remittance for Pakistan. The remittance of Pakistan has three distinct phases. The first period (1973-1983), characterized by a steady increase in the amount of remittances then a steady decline for the second period (1984 to 2000) and the third period (2001-2014) characterized by positive signs of the revival of Pakistan's remittance.