KARACHI: Saudi Arabia and the United Arab Emirates (UAE) remained top contributors to Pakistan’s highest ever remittance inflow in April, according to the country’s central bank that released the latest data on Tuesday.
“Workers’ remittances rose to an all-time monthly high of $2.8 billion in April 2021, which is 56 percent higher than the same month during the last year,” the State Bank of Pakistan said.
On a cumulative basis, remittances also surpassed previous records during the ten months of the current fiscal year (10MFY21).
The $24.2 billion the country received in July-April FY21, is 29 percent greater than the inflows in the corresponding period last year and the amount has already exceeded the full FY20 level by more than $1 billion.
The central bank took the credit for the highest remittance inflow, saying its proactive policy measures encouraged more remittances through formal channels.
Other contributing factors accounting for the record remittance levels this year include reduced cross-border travel due to COVID-19, orderly foreign exchange market conditions and, more recently, Eid-related money transfers by overseas Pakistanis to their homeland.
Pakistan received $6.4 billion from Saudi Arabia followed by $5.1 billion from the UAE and $2.77 billion from other gulf countries during July-April FY21, taking the overall contribution of the gulf states to 58 percent of the total inflow of $24.2 billion this year.
The United Kingdom and United States were other major contributors with $3.3 billion and $2.2 billion, respectively.
During the month of April, Pakistani workers remitted $664.5 million from Saudi Arabia while those in the UAE dispatched $549.3 million. The trend shows that inflows from the two countries will surpass previous records by the end of the current fiscal year.
During the last fiscal year (FY20), Pakistani workers in Saudi Arabia contributed $6.61 billion while inflows from UAE stood at $5.61 billion.
“Due to travel restriction, people are now transferring more money through digital means,” Samiullah Tariq, head of research at the Pakistan Kuwait Investment, told Arab News on Tuesday. “Previously, they physically carried cash while traveling to the country.”
“Cumulative inflows during the full fiscal year are expected to remain in the range of $28 billion to $29 billion,” he continued, adding: “The inflows in the coming months are expected to tone down.”
Analysts say major inflows from the gulf countries are supporting Pakistan’s balance of payment situation and strengthening the country’s national currency which closed at Rs152.60 against the US dollar in the interbank market on Monday.
Saudi Arabia, UAE remain top contributors to Pakistan remittance inflows
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Saudi Arabia, UAE remain top contributors to Pakistan remittance inflows
- Official statistics compiled by the State Bank of Pakistan point to an all-time monthly high of $2.8 billion last month
- Pakistan’s overall remittance inflow increased by 29 percent to $24.2 billion during the first ten months of the current fiscal year
PM Sharif thanks Moroccan authorities for rescue of Pakistani migrants in recent shipwreck
- The boat capsized off Morocco on Jan. 15 while carrying 86 migrants, including 66 Pakistanis
- Pakistan’s Foreign Office has said that it is in process of repatriating 22 survivors of the tragedy
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday thanked Morocco’s King Muhammad VI and the Moroccan government for the rescue of 22 Pakistani nationals in a shipwreck off the coast of Dakhla city as he met the Moroccan ambassador, Mohamed Karmoune, in Islamabad.
The boat capsized near Morocco’s coast on Jan. 15 while carrying 86 migrants, including 66 Pakistanis, according to migrant rights group Walking Borders. Pakistan’s Foreign Office said last week that it was in process of repatriating 22 survivors of the tragedy.
Pakistan’s embassy in Rabat has been working closely with Moroccan authorities to oversee the relief efforts and finalize the complex repatriation procedure, according to the Pakistani Foreign Office.
In his meeting with the Moroccan ambassador, Sharif expressed Pakistan’s “deep appreciation” of the Moroccan leadership for the support extended in rescuing stranded Pakistanis who had survived the boat capsize.
“He thanked the local Moroccan authorities for extending their full cooperation to the Pakistani officials involved in repatriation of the survivors as well as the remains of those deceased,” Sharif’s office said.
The Morocco tragedy has once again underscored the perilous journeys many migrants, including Pakistanis, embark on due to conflict and economic instability in their home countries.
In 2023, hundreds of migrants, including 262 Pakistanis, drowned when an overcrowded vessel sank in international waters off the southwestern Greek town of Pylos, marking one of the deadliest boat disasters ever recorded in the Mediterranean Sea. More recently, five Pakistani nationals died in a shipwreck off the southern Greek island of Gavdos on Dec. 14.
The Pakistani government has ramped up efforts in recent months to combat human smugglers facilitating dangerous journeys for illegal immigrants to Europe, resulting in several arrests.
Recalling brotherly ties between Pakistan and Morocco at Monday’s meeting, Sharif said there was a need to strengthen trade and investment cooperation between the two countries. Islamabad has been actively pursuing trade and investment opportunities to put the $350 billion South Asian economy on the path of recovery since avoiding a default in mid-2023.
The Moroccan ambassador reaffirmed his country’s commitment to further strengthen cooperation with Pakistan across all areas of shared interest, according to Sharif’s office.
“The two sides are working closely to convene meetings of the institutional consultative mechanisms, including Bilateral Political Consultations at an early date,” it added.
Senate body approves controversial bill to amend Pakistan cybercrime law
- The new law aims to set up a social media regulatory authority that will have its own investigation agency and tribunals
- These tribunals will be able to try and punish offenders with prison sentences of up to three years and fines of Rs2 million
ISLAMABAD: A standing committee of Pakistan’s Senate, the upper house of parliament, on Monday approved a bill to amend the country’s cybercrime law, the committee chairman said, amid opposition from journalists and rights groups.
Pakistan’s National Assembly, lower house of parliament, introduced and passed the amendments to the Pakistan Electronic Crimes Act (PECA) on Thursday. The amendments were presented in the Senate on Friday and were forwarded to a relevant committee for consideration. After their passage from both houses, the draft will be sent to the president to be signed into a law.
The new regulations will set up a social media regulatory authority that will have its own investigation agency and tribunals, according to a draft on the parliament’s website. Such tribunals will be able to try and punish offenders with prison sentences of up to three years and fines of two million rupees ($7,200) for dissemination of “false or fake” information.
In his report, Senator Faisal Rehman, chairman of the Senate Standing Committee on Interior, said the proposed amendments establish a robust framework for tackling cybercrimes through the creation of a key government mechanism, which will “ensure the protection of the citizens’ digital rights, regulate online content, and promote secure and responsible Internet usage.”
“After detailed discussion, the bill was put to the vote of the committee which was passed by the majority votes,” Senator Rehman said. “The committee recommends that ‘The Prevention of Electronic Crimes (Amendment) Bill, 2025,’ as passed by the National Assembly, may be passed by the House [Senate].”
The draft is expected to be presented before the Senate in the next few days, before being sent to the president for a final nod.
Pakistan’s Law Minister Azam Nazeer Tarar told parliament on Thursday the law was introduced to block “false and fake” news on social media, which he said had no specific regulations to govern it.
But the proposed amendments have angered journalism groups and rights activists, which say it is aimed at curbing press freedom.
“We reject this unilateral decision by the government to set up any such tribunals,” Pakistan’s Federal Union of Journalists (PFUJ) President Afzal Butt told Reuters on Friday. “We also are in favor of regulations, but, you know, a law enforcement agency or a police officer can’t decide what is false or fake news.”
Global human rights watchdog Amnesty International said the amendment will “further tighten” the government’s grip on the “heavily controlled digital landscape” in the South Asian country.
The Prevention of Electronic Crimes Act (PECA), passed in 2016, triggered widespread criticism from human rights organizations and activists for its potential for “harmful impact” on the right to freedom of expression and access to information in Pakistan.
Reporters Without Borders, an organization that promotes and defends press freedom, ranked Pakistan low on its 2024 World Press Freedom Index, at number 152. The group also says Pakistan is one of the most dangerous places for journalists to work.
Ex-PM Khan, wife appeal Pakistan graft convictions
- Khan has been convicted four times since his arrest in Aug. 2023, with two convictions overturned and the sentences in the other two cases suspended
- A graft court this month found Khan and his wife guilty of ‘corruption’ over a welfare foundation they established together called the Al-Qadir Trust
ISLAMABAD: Pakistan’s jailed former prime minister Imran Khan and his wife Bushra Bibi appealed against their convictions for graft on Monday, his lawyer said.
Khan, 72, has been held in custody since August 2023 charged in around 200 cases that he claims are politically motivated.
The former cricketing star was sentenced to 14 years in jail and his wife to seven this month in the latest case to be brought against them.
“We have filed appeals today and in the next few days it will go through clerical processes and then it will be fixed for a hearing,” Khan’s lawyer Khalid Yousaf Chaudhry told AFP outside Islamabad High Court.
Khan has been convicted four times since his arrest, with two convictions overturned and the sentences in the other two cases suspended.
A special graft court found the pair guilty of “corruption and corrupt practices” over a welfare foundation they established together called the Al-Qadir Trust.
The court hearing for the case was postponed three times and his Pakistan Tehreek-e-Insaf (PTI) party said earlier it was being used to pressure him into cutting a deal with the government to step back from politics.
Khan alleged before the conviction that he had been “indirectly approached” about the possibility of house arrest at his sprawling home on Islamabad’s outskirts.
Bibi, a faith healer who married Khan shortly before he was elected in 2018, is being held at the same jail as her husband in the garrison city of Rawalpindi, close to the capital Islamabad.
Khan’s popularity continues to undermine a shaky coalition government that kept PTI from power in elections last year.
Even from behind bars, Khan has fired off statements through his legal team railing against the government and promising to fight his battles through the courts.
Sometimes violent protests have paralyzed Islamabad in recent months and the party has announced further rallies next month to mark one year since elections that were marred by allegations of rigging.
Khan called off talks with the government last week aimed at easing political tensions.
Ousted from power by a no-confidence vote in 2022, the former cricket star has since launched an unprecedented campaign in which he has openly criticized Pakistan’s powerful generals.
Analysts say the military’s leaders are Pakistan’s kingmakers, although the generals deny interfering in politics.
A UN panel of experts found last year that Khan’s detention “had no legal basis and appears to have been intended to disqualify him from running for political office.”
Khan was barred from standing in last February’s election and his PTI party was hamstrung by a widespread crackdown.
PTI won more seats than any other party but a coalition considered more pliable to the military’s influence shut them out of power.
Pakistan sets up pavilion at Arab Health expo to demonstrate health care manufacturing prowess
- The exhibition, running from Jan. 27 till Jan. 30, focuses on nine key product sectors, including medical equipment, disposables and surgical goods
- Pakistan Pavilion is hosting 40 Pakistani firms at the exhibition, highlighting the importance of enhancing Pakistan’s exports across diverse sectors
ISLAMABAD: Pakistan has set up its pavilion at the Arab Health 2025 exhibition in Dubai to showcase the South Asian country’s capabilities in health care manufacturing and innovation, the Pakistani embassy in the United Arab Emirates (UAE) said on Monday.
Arab Health 2025, organized under the patronage of the UAE’s Ministry of Health and Prevention, is one of the largest and most prestigious health care exhibitions in the world. This year, the event is featuring over 3,800 exhibitors and has attracted more than 60,000 health care professionals and industry leaders from over 70 countries.
The exhibition, running from Jan. 27 till Jan. 30, focuses on nine key product sectors, including medical equipment and devices, disposables and surgical goods, orthopedics and physiotherapy, imaging and diagnostics, general health care services, health care infrastructure, wellness and prevention, health care transformation and health care technology.
Pakistan’s Ambassador to the UAE Faisal Niaz Tirmizi inaugurated the Pakistan Pavilion at the expo at Dubai World Trade Center, which is hosting 40 leading Pakistani companies under the umbrella of the Trade Development Authority of Pakistan (TDAP), highlighting the importance of enhancing Pakistan’s exports across diverse sectors to achieve sustainable economic growth.
“Arab Health has served as an important platform for the health care industry over the past 50 years for collaboration, innovation, and shaping the future of health care,” Ambassador Tirmizi said as he inaugurated the pavilion.
“Our mission is committed to doubling the number of Pakistani exhibitors at next year’s exhibition.”
The UAE is Pakistan’s third-largest trading partner after China and the United States (US), and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the UAE foreign ministry. Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
The Arab Health exhibition also hosts scientific conferences offering insights into the latest trends in health care, advancements in digital health and artificial intelligence and strategic investment opportunities in the sector.
Ambassador Tirmizi emphasized the significance of leveraging platforms like Arab Health to foster business-to-business linkages, drive innovation in research and development, and enhance collaboration in digital health care services, according to the Pakistani embassy.
Pakistani exhibitors expressed their satisfaction with the arrangements and reiterated the importance of Arab Health in unlocking Pakistan’s export potential in the UAE and the broader Gulf Cooperation Council (GCC) markets.
Pakistan to invite local businessmen in renewed push to privatize loss-making national airline
- A deal to sell off the Pakistan International Airlines fell through late last year, after a potential buyer reportedly offered a fraction of the asking price
- Pakistan hopes the recent opening of European routes, expected to be followed by a similar announcement by the UK, will boost PIA’s selling potential
ISLAMABAD: The Pakistani government has renewed its efforts to privatize the loss-making Pakistan International Airlines (PIA) and plans on inviting local businessmen to the new bidding process, Prime Minister Shehbaz Sharif said on Monday.
Pakistan’s government has been scrambling to find a buyer to privatize the debt-ridden airline since late last year, when a deal fell through after a potential buyer reportedly offered a fraction of the asking price.
The airline posted losses of $270 million in 2023, according to local media reports. Its liabilities were nearly $3 billion, about five times the total worth of its assets.
Speaking at a ceremony in Islamabad, Sharif said a new effort was being carried out to privatize the airline, so that PIA becomes the PIA of its heydays in the ‘60s.
“This time we are inviting Pakistani businessman from Karachi, Quetta, Peshawar and Lahore,” Sharif said in televised comments. “A new bidding process will be carried out, whichever group wins the bid, PIA will be given to them.”
The development comes weeks after PIA resumed its operations in Europe, with the first flight to Paris on Jan. 10, following a hiatus of four years.
The airline was restricted in 2020 by the European Union Aviation Safety Agency (EASA), United Kingdom (UK) and the United States (US) after Pakistan launched an investigation into the validity of pilots’ licenses issued in the country, following a PIA plane crash in Karachi that killed 97 people. EASA lifted its ban on PIA in November last year, however, the airline remains barred from flying to the UK and the US.
Separately on Monday, a delegation from the UK’s Department for Transport and Civil Aviation Authority arrived in Pakistan to conduct a safety assessment ahead of the resumption of PIA flight operations between the two countries, according to the Pakistan Civil Aviation Authority (PCAA).
“There will be several high-level meetings between the two sides,” the PCAA said in a statement. “The discussions will examine aviation safety protocols, review documentation, and evaluate operational procedures.”
Pakistan’s government hopes the opening of European routes, which officials expect will be followed by a similar announcement by the UK later this year, will boost PIA’s selling potential.
“We will take PIA back to the slogan ‘Great People To Fly With’,” Sharif said at the Islamabad ceremony. “This is difficult but not impossible.”
