Qatar needs to put up a limit on outgoing monthly Remittances

Qatar needs to put up a limit on outgoing monthly Remittances

Equin0x
By Equin0x

If Qatar govt. spends money, it circulates and promotes dozens of other business sectors in the country that gives benefits to the society at large. If such a spending is cut out, this makes many businesses sick and failing.

Ideally the private businesses themselves should have enough cash to keep going but in absence of no control on outward remittances (the businesses have strong tendency to send out the monies, which runs in billions, to their home countries for real estate investments mostly), as a result of which, the Qatar businesses remain always short of funds forcing everyone in the hierarchy to suffer. Ask any businessman, he would mention, there is shortage of cash in the market all round the year.

If the govt. is holding on some of the projects and cutting down on the expenses, fair, but on the other side, there is a dire need to put a mild control on the outgoing funds, like one can only remit Qar. 50 k in one month, this if implemented would enable the businesses to keep the money in circulation in Qatar, which would strengthen the private sector to avoid failures, gain ground, keep going, diversify, grow and create more business opportunities locally.

By Equin0x• 10 Nov 2015 07:48
Equin0x

Qatar govt. have been emphasizing time and again that private business sector needs to gather its own strength. When the govt. projects are stopped, the money circulation goes down which consequently generates rippling effects on all the private sector.

By ani_chy• 10 Nov 2015 07:41
ani_chy

Sometimes this outward investments helps businesses survive through market scares. Who is this "everyone in the hierarchy" you are talking about? And businessmen know their way in and out, and hence they do such outward investments to maximise profits, in other words, keep buffer for their business.

By Equin0x• 10 Nov 2015 07:39
Equin0x

While keeping away other things, let us recommend something that can really help everyone. Private businesses are suffering because they just send out the monies even if that had been borrowed from the Bank. There should be limit on outgoing funds, otherwise the local businesses would always remain dry and out of money.

By Wild Turkey• 10 Nov 2015 07:27
Wild Turkey

No expat is interested in investing in a society that doesn't give him equal rights!

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