Remittance sustains 30pc families

Each household which has a family member working abroad receives an average remittance of Rs. 80,462 per year.

The Labour Force Survey 2008 carried out by the Central Bureau of Statistics (CBS) revealed that 30 percent of the households receives remittances either from inside or outside the country.

Overseas remittances accou- nt for 83.2 percent with the rest coming from within the country. Families receiving remittances from inside the country receive an average of Rs. 28,976 per year.

According to Nepal Rastra Bank (NRB), the country received remittances amounting to Rs. 204.72 including money sent back by workers and servicemen's pensions during the first 11 months of the last fiscal year.

The remittance inflow grew by 51 percent during 11 months of last fiscal year against the increase of 37.3 percent, according to the NRB. The government has also admitted that the role of remittance remained crucial to reduce to people under poverty line from 41 percent to 31 percent now.

Above two million people are estimated to have gone to foreign countries to work. The survey found that 29.1 percent of the households had at least one member working abroad.

According to Ministry of Loabur and Transport Management, as many as 217,164 people went abroad for foreign employment in fiscal year 2008/09. There has been a constant rise in the number of people going abroad for employment over the decade although the number declined by 12.80 percent last year due to global economic recession. Only 27,796 persons had gone for foreign employment in fiscal year 1998/99.

Nepal receives the highest remittance from Qatar (21.3 percent of the total) followed by Malaysia (19.2 percent). Saudi Arabia stands third with a share of 14.9 percent, India fourth with 13.4 percent and the United Kingdom fifth with 2.2 percent.
Source: Kantipur