Pakistanis living abroad should transfer their money through banking channels in order to increase foreign exchange reserves of the country.

This has been stated by Pakistan and Australia Business Council (PABC) President Mr. Iftikhar Rana and General Secretary Mr. Sadaqat Siddiq in a statement issued on 14 of November 2008.

The PABC office bearers have urged the overseas Pakistanis that they could make a valuable contribution in raising the foreign exchange deposits of Pakistan by sending their foreign remittances through official overseas channels.

The President and General Secretary of PABC reminded the Pakistanis living in Australia that one of these official channels is Citilink Finance (Australia) Pty (Formerly Habib Finance).

They said that Pakistan is in dire need of foreign remittances. Money sent through official sources like Citilink Finance would help build the rapidly depleting foreign exchange reserves of the country.

Pakistan is passing through a difficult phase where foreign exchange reserves of the country are very limited and needs support from overseas Pakistani’s residing all over the world to contribute in sending remittances to meet the import bills payments, they said.

Pakistan also welcomes foreign investment to reduce unemployment and strengthen the economy amid current global financial crisis. Foreign investment would also help overcome current financial crisis and overseas Pakistani business community can play a vital role in this regard.

Mr. Rana and Mr. Siddiq expressed the confidence that overseas Pakistanis would come forward and help their country by sending their money by utilising legal, safe, secure and quick banking service like Citilink Finance (Australia) Pty Ltd.

Tips for money saving

These are just quick tips not professional advices.

Learn about your finances to control them

• Commonwealth government has a very good website about learning about the money. It is called Understanding Money (see link in left column). It has sections such as
  • A few simple things...
  • Put yourself in charge
  • Life happens!
  • Order FREE our handbook
  • Attend a FREE seminar
  • Tools
  • Useful links

Control Your Finances

• Never sign something over the phone. Instead either read complete inforamtion over the Internet or request them in print form to send to your home address.

Follow your superannuation.

• You know where ever you work, your employer send superannuation money to a financial company but when you leave that money stays with that compnay. You should carry it over to superannuation company of new employer.
• Here you can find more information how to find your "Lost" supperannuation. Find Lost Supperannuation

Use Cash Power

• It is not easy to have quite a cash in account but if you get then you can play game of haggling & bargain.

Get out of Plan

• Try not others to plan your things such how much you gonna spend over then phone, how long you gonna use broadband services from a certain company. These things take control and don't let you enjoy bargain power.

Internet saves you a lot

• Many companies gives your discount if you order things online.
• Online discount coupon is common saving point.
• Many bank has started Internet base account where you get higher profit.

Internet Banking Saves You

Internet banking saves you lot of bank fee and also helps you to control finances.

• You can see your money any time.
• Transfer it any other account without going to branch (hight fee involve) or phone (local call used).
• Download & print statements any time you need them.
• You can schedual your bills payment as they come. Paying bills over the Internet saves you lot a time that converts into money obviously.

Calculation Saves You!

• Always make a habit of calculate every financial decision you take; specially the long term ones such as home loan, choosing a superannuation or taking a personal loan.
• Try to learn some spreadsheet like Excel to do some basic calculations.