The story “Excessive remittances ‘drain GCC economies’” is part of a propaganda aimed against the expatriate population. The story has evoked strong responses from expat readers.
It is presumptuous on part of those who are highlighting this exaggerated situation time and again. Any one who talks of remittances should know that infrastructure development requires spending.
Since the Kingdom is totally dependant on expatriate communities for its development work involving millions of riyals, the government cannot tax, curtail or simply wish away outflow of money as long as it is dependent on foreign manpower. It is logical and advisable that we measure or compare development versus cost and not just talk of about capital outflow. It is a fact that Saudi Arabia today with its enlightened and modern-thinking leadership has taken up unprecedented developmental projects recently. It is still a long way to achieve what other developing and developed countries have already done decades back. Once these projects are completed, Saudi Arabia will be able to compete with any other prominent and modern country in the world. But such mega projects will unavoidably incur huge spending, which these so-called financial experts need to understand. They have to accept this reality with a pinch of salt. — Masroor Ahmed Jameel, by e-mail
Excessive remittances
