Overseas Pakistanis should be given more incentives to prompt them to send remittances home through legal channels, according to Hassan Raza, head of structured credits and global remittance business at Habib Bank.
In Saudi Arabia and the UAE, the construction sector is booming and they are hiring workers from Pakistan.
According to the official statement, they have a plan to hire 500,000 more labors. It would ultimately enhance the remittance volume to Pakistan.
Some important measures need to be taken to educate labors to send their remittances legally, Raza told Arab News in an exclusive interview.
Excerpts:
As you said, there is a need to boost remittances. So, what measures are you going to take to achieve the four to five million Pakistani rupee remittance target?
For this, we will have to take two to three important measures. Initially, there is a need to educate people to send their remittances legally. This will be beneficial to them. Furthermore, nobody will ask them the source of their money. Still, people send their money through illegal ways, but with persuasion from the State Bank, PRI and scheduled banks, the number of legal remittances are growing gradually. There is also a need to raise awareness among laborers. As they leave Pakistan for jobs, they should always adopt legal ways to send their remittances. The labors are mostly recruited through government agencies or government authorized agencies, but once they go they get trapped by illegal agents there.
Is it possible to offer incentives in air tickets or other travel facilities for the relatives of overseas Pakistanis here?
Exactly, you are right. This should be implemented. The Pakistan government has already issued the card, but most of the people are not aware of these facilities. Such types of incentives are beneficial for the people. I have already discussed this s topic here with different people and they opine that relief should be given to overseas Pakistani in custom duties, or if he is bringing car with him he should be given relaxation in custom duty. In my opinion, depending on the remittance volume, he should be given VIP treatment at Pakistan s airport.
Pakistan receives $14 billion foreign exchange and takes a $6 billion loan from the IMF. Hence overseas Pakistanis should be given more importance and offered lucrative incentives. Isn’t it?
I totally agree with your perception. When we interact with our labor community we offer them gifts, we share their happiness as well. We offer them prizes through raffle draws. Similarly they get some benefits and recognition and I agree with you such benefits should be given at government level as well. In Saudi Arabia and the UAE, construction work is booming and they are hiring workers from Pakistan. According to the officials, they have a plan to hire 500,000 more labors. It would enhance the remittance volume in Pakistan. Some important measures need to be taken to encourage labors to make legal remittances.
Are our embassies in the Middle East helpful and what are their initiatives?
First of all, we have to prioritize our objects. Usually, overseas Pakistanis send their remittances from all over the world but a big chunk is received from Middle East. Our embassies help in the matter, but there is much more to be done. On our Independence Day, they hold functions and Pakistanis participate in them. That provides an opportunity to us. Furthermore, when the consulate staff visit labor camps, they can educate our people to send their remittances legally. It would bring some improvement. It is a national cause and every one of us should play our role. In this regard, Philippines can be taken as a role model for us. That country also receives a significant volume of foreign exchange.
You have mentioned the rebate problem. If this problem is not solved how would you be able to achieve your targets?
To resolve this issue, I discussed it with the government authority and urged the State Bank too though the present government has taken some measures to resolve the issue bringing some improvements as well. Our Finance Minister Ishaq Dar has promised to release some more funds for this purpose. This rebate issue is a talk of the town and the disbursement should be in time to expedite foreign exchange.
Why to break the transaction in parts and why the SR25 policy is still valid?
This should be abolished, but the banks have already done a lot of work on it. You can observe yourself. If someone is sending money four times in that way, banks and the State Bank can check him easily. That is not an easy task now.
What are the new products to be introduced in the markets in the near future?
If you observe, banks have same type of products. Two years ago we introduced our main product, which is called Cash Over the Counter (COC). This product has gained significant popularity among the customers. The other products are Account Credit and Account to Account. Another product is Third Party Payment. For example, if someone sends me money and he has an account in another bank, I send that in his particular bank account and it will be credited to his account. With the technological advancement, receiving and paying the amount can be done very promptly. One more is Pardes Card. The State Bank also showed a lot of interest in it. It is like a prepaid card. If someone sends you the money, the card gets loaded up promptly. That card can be utilized at the bank and anywhere else simply like your ATM card. It is free from withholding text, and interest and profit are also offered on it. It is equal to opening your account. Once you receive that card, you don’t need to visit your bank. As someone sends you the money, your card will be loaded up automatically. But I would also explain to you that the card could not gain as much popularity as it should be. I think people still prefer to visit their bank branch for transactions. I reiterate that the people who send remittances must be given more incentives.
Habib Bank to expand remittance business
Habib Bank to expand remittance business
How sustainable food producers are shaping the future of agriculture in Saudi Arabia
- Topian, a NEOM subsidiary, plans to transform food production and consumption with sustainable and innovative solutions
- KAUST’s Center of Excellence for Sustainable Food Security aims to address challenges in resource efficiency, crop improvement, and biosystems
RIYADH: Achieving food security and sustainability is a top priority for Saudi Arabia as it works toward building a more inclusive economy. The Kingdom aims to accomplish this by boosting domestic production and investing in international supply chains to secure key commodities that are unavailable locally.
Strategic transformations as well as enhanced international cooperation are both essential in efforts to address global food insecurity, Abdulrahman Al-Fadley, Saudi Arabia’s minister of environment, water and agriculture, said at the recent meeting of G20 agriculture ministers in Brazil.
“There is a pressing need to adopt a long-term transformation for food security and nutrition,” he told decision-makers on the second day of the conference.
“This underscores the need to intensify our efforts and strengthen collaboration to develop pragmatic solutions for building sustainable, healthy and inclusive food systems.”
The G20 agriculture, fisheries and aquaculture ministers met on Sept. 12-13 in Chapada dos Guimaraes, Brazil, to discuss strengthening the resilience and sustainability of food systems across economic, social and environmental dimensions. These sectors are key to achieving the 2030 Agenda for Sustainable Development.
Increased efforts to boost Saudi Arabia’s food production resulted in the country announcing in September 2023 that it had achieved self-sufficiency in fresh dairy products and eggs, with surpluses available for export.
In addition, the Kingdom has significantly increased domestic production of various crops, including potatoes, tomatoes, carrots and onions, as well as red meat.
This progress comes from increased efforts to boost domestic food production by involving all stakeholders, including the private sector and civil society. One notable company is Topian, which was launched by NEOM in 2023.
Topian aims to redefine food production, distribution, and consumption by creating sustainable, innovative solutions in five key areas: climate-proof agriculture, regenerative aquaculture, novel foods, personalized nutrition, and sustainable food supply and environmental, social and governance.
Founded with the support of the Saudi Ministry of Environment, Water and Agriculture, Topian aligns with the goals of the Kingdom’s Vision 2030 plan for national development and diversification. The company is leading efforts to ensure food security, combat climate change, and achieve net-zero emissions by 2060.
“As a wholly owned subsidiary of NEOM, Topian is fully aligned with NEOM’s commitment to providing high-quality food products to the market, and promoting food security and sustainability, while contributing to the Kingdom’s self-sufficiency objectives and long-term economic goals,” said Juan Carlos Motamayor, the company’s CEO.
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“Topian is leading the food-security conversation to create a resilient food supply in line with the Saudi Green Initiative and the UN’s Sustainable Development Goals.
“We are not only committing to shaping a transformative global food system, but also to setting a global benchmark by pioneering new technologies and innovative solutions to overcome food-related challenges and create a more secure, sustainable and prosperous future for all.”
Topian has formed several local and international strategic partnerships with organizations committed to reshaping the future of food.
These agreements include collaborations with King Abdullah University of Science and Technology, Tabuk University, Tabuk Fish Company, BlueNalu, Van der Hoeven Horticultural Projects, and Cargill.
Through these partnerships, it aims to drive research and development, leveraging expertise to create innovative and sustainable food-production methods.
The company is also committed to the NEOM CARE partnership, which focuses on educational initiatives to promote local sustainable gastronomy and develop Saudi talent through training opportunities and chef camps.
Another key Saudi initiative aimed at achieving food security is the Center of Excellence for Sustainable Food Security.
Founded by KAUST in 2024, the center focuses on the advancement of technology-driven solutions to help enhance sustainable food production, particularly in arid environments. Its primary goal is to translate research into practical applications that minimize the environmental impact of food systems.
The center is led by Mark Tester, an expert in plant science and agriculture in arid environments, and co-chaired by Brande Wulff, a leader in crop genetics, and Peiying Hong, an expert in environmental microbiology and wastewater treatment.
DID YOU KNOW?
• Food systems are responsible for at least 21 percent of total greenhouse gas emissions, 80 percent of deforestation, and 45 percent of groundwater use, making them the top cause of land biodiversity loss.
• Saudi Arabia is targeting a 75 percent reduction in food waste by 2050, encouraging plant-based diets and sustainably-sourced seafood.
• The Kingdom aims to reduce degraded land by 50 percent by 2050 and achieve land degradation neutrality by 2030.
It aims to address key challenges in resource efficiency, crop improvement, and sustainable biosystems, with the goal of enhancing food security in Saudi Arabia and beyond while minimizing environmental impacts.
“To deliver food to our plates, we need to prepare the land, improve our crops, harvest, process and distribute,” Tester told Arab News.
“Together, these activities are arguably the most environmentally impactful of all human activities, using half of all the land and three-quarters of all the water we use, and the food sector is probably the second-biggest emitter of greenhouse gases.
“All steps in the process need to be improved to increase sustainability, from fertilizer production and the deployment of technologies to increasing our ability to grow fresh fruits and vegetables locally, through to education to improve nutrition and reduce waste.”
The center uses advanced technologies to boost sustainability in the food sector, including artificial intelligence-machine learning, Internet of Things sensors, and computer vision and robotics, all key components of the Fourth Industrial Revolution.
It also employs nanotechnology, such as heat-absorbing nanoparticles that reduce heat load in greenhouses, and biotechnologies such as genomics, gene editing and modifications to enhance crops in ways previously not possible.
Tester said the center has also introduced the Sustainable Food Security Edible Education Program, which is designed to “help reconnect young people with the sources of their food — ultimately plants — and to do this in a way that is fun and engaging, and in a way that kids can immediately relate to; i.e., through food.”
He added: “We all get hungry, several times a day, and if we are growing at least some of our food that we then eat, it reminds us of how our meals end up on our plates. In the Edible Education Program, we help children and their teachers grow plants in the schoolyard and use these for some of their school lunches. It is immediate, direct and fun.”
Saudi Arabia has actively promoted domestic and foreign investments in agriculture, Al-Fadley, the environment, water and agriculture minister, said during the G20 meeting in Brazil. Over the past four years, agricultural loans have surged, contributing to growth of 35 percent in the Kingdom’s agricultural gross domestic product.
Alkhobar offers a visual feast with 56 works exploring new realities
- Artists from Saudi Arabia and the world are screening creations
- Kingdom’s Lina Saeed Qattan showing ‘Lena and the Magic Carpet’
ALKHOBAR: The sixth International Video Art Forum launched this week at the Cinema Society headquarters in Alkhobar, offering a visual feast for afficionados.
Organized by the Saudi Society for Culture and Arts, in collaboration with the Cinema Society, the event runs for 10 days and will feature groundbreaking video art from around the globe.
A jury of experts selected 56 artworks, narrowed down from 127. And the space showcases work from 29 countries, narrowed down from 41.
“There is no particular theme this year — aside from it being within the realm of ‘imagination embodied, reality transformed,’” Yousif Al-Harbi, director of SASCA’s Dammam branch and general supervisor of the forum, told Arab News.
“This year’s works continue to express the transformation of imaginative ideas and perceptions into tangible works of art that can have an impact on the reality that we live in.”
The videos can be watched in the upstairs space, which is covered with a black cloth door. Only three people can watch the short films as they play on a loop.
This year’s works continue to express the transformation of imaginative ideas and perceptions into tangible works of art that can have an impact on the reality that we live in.
Yousif Al-Harbi, Saudi Society for Culture and Arts director
The longest video is 7 minutes and the shortest under a minute.
A notable video is the 3-minute “Choreography of Space and Time” by German-based Egyptian artist Ehab Aziz that blends abstract imagery and dynamic movement.
In addition, Saudi Arabia’s Lina Saeed Qattan’s minute-long “Lena and the Magic Carpet,” uses artificial intelligence to showcase vibrant colors as Lena travels through the desert.
Arab News spoke with the 21-year-old Yemeni director, Yousef Ahmed, who has lived his entire life in the Eastern Province, about his short film, “Dose.”
“The film is about a depressed person who replaces his medication with sweets after reading a newspaper article,” he explained.
“It explores his journey of shifting perspectives — rising out of his sadness, only to sometimes fall back into it. We’ve all had days like this, and that’s completely normal.”
The film, under a minute long, was shot and edited entirely on a mobile phone over a month, specifically for the forum. “The phone is always available and accessible,” he said.
He added that finding the right music and fitting it into a larger format such as a TV screen was a challenge.
Workshops dedicated to AI and painting with light, were also part of the programming, as well as panel discussions with filmmakers and artists.
The forum has become one of the region’s top international platforms for video art, having featured more than 823 artworks from over 70 countries.
It has also hosted 31 lectures and workshops, offering artists a unique opportunity to connect and share their work with a global audience.
The winners will be announced at the conclusion of the event.
1,500 influencers participate in Riyadh’s ImpaQ event
- The signing ceremony was attended by Saudi Arabia’s Media Minister Salman bin Youssef Al-Dossary, who emphasized the significance of such initiatives in supporting the media and digital sectors
RIYADH: The Impact Makers Forum, organized by Saudi Arabia’s Ministry of Media, drew over 1,500 influencers and specialists from around the world, including more than 30,000 visitors.
ImpaQ, the first and largest event of its kind in the Kingdom, was hosted at the Mayadeen Hall in Diriyah, Riyadh, under the slogan “Inspiration Beyond Numbers.”
The two-day event, which ended on Thursday, provided a new platform for influencers to focus on creativity and innovation.
During the forum, a series of strategic agreements and partnerships were signed to promote and enhance creativity and innovation in the Kingdom’s media and marketing sectors.
The signing ceremony was attended by Saudi Arabia’s Media Minister Salman bin Youssef Al-Dossary, who emphasized the significance of such initiatives in supporting the media and digital sectors.
Pakistan president receives Saudi Shoura Council speaker in Islamabad
- Sheikh Abdullah conveyed the greetings of King Salman and Crown Prince Mohammed bin Salman to the Pakistani president
ISLAMABAD: Saudi Shoura Council Speaker Abdullah bin Mohammed Al-Sheikh was received by Pakistan’s President Asif Ali Zardari in Islamabad as part of his official visit, reported Saudi Press Agency.
Sheikh Abdullah conveyed the greetings of King Salman and Crown Prince Mohammed bin Salman to the Pakistani president, as well as their well wishes for the government and the continued progress and prosperity of the country’s people.
During the meeting, the two men reviewed bilateral relations between the two nations and ways in which they could be enhanced. Other topics of common interest were also discussed.
Plaudits for Hail Region Development Authority
- Omar Abduljabbar highlighted the authority’s concentration on human capital and its consistent attempts to empower and support national talent to drive its mission forward
HAIL: Great Place To Work, the global workplace culture organization, has ranked Hail Region Development Authority as fourth among the best public sector workplaces in the Kingdom.
The recognition underscores the authority’s commitment to cultivating a positive workplace culture, enhancing employee experiences, and strengthening the body’s reputation.
Omar Abduljabbar, the CEO of Hail Region Development Authority, said that the ranking reflected the authority’s commitment to fostering a positive and empowering work culture.
He highlighted the authority’s concentration on human capital and its consistent attempts to empower and support national talent to drive its mission forward.
Abduljabbar stressed the authority’s dedication to regularly assessing employee satisfaction, and attributed its achievement to its unwavering focus on creating a supportive, innovation-driven atmosphere that enhanced productivity and aligned with strategic objectives.
