ISLAMABAD: The Ministry of Overseas Pakistanis and Human Resource Development assisted over 258,000 Pakistanis to go to Saudi Arabia for prospective job opportunities in various sectors during the first 10 months of the year.
According to the data compiled by the Bureau of Emigration and Overseas Employment, manpower export to Saudi Arabia registered a marked increase of 207 percent in 2019 as compared to last year when 84,091 Pakistanis went to the Kingdom.
Some 176,947 Pakistanis also found jobs in the United Arab Emirates (UAE), exhibiting a nominal growth of 1.7 percent.
The number of Pakistani immigrants to Oman had also increased by 5.8 percent as 23,998 Pakistanis proceeded to the said country during the 10-month period as compared to 22,668 in the corresponding period of 2018.
An official source at the ministry told APP that the special assistant to the prime minister (SAPM) on overseas Pakistanis and human resource development, Sayed Zulfikar Bukhari, had held consultations with the relevant authorities in different states to augment the number of Pakistani workers abroad.
He said that Zulfi Bukhari had formally requested the Saudi authorities to enhance the number of Pakistani workers in the multi-billion-dollar project, the New Taif City.
He said that Saudi Arabia had also extended an offer for Pakistan’s manpower export through “Musaned,” a digital platform launched by the Kingdom to facilitate labor recruitment process and ensure the protection of workers’ rights.
The process would take some months and after that the Pakistani workforce would be sent to Saudi Arabia through the online platform, he added.
The official said the ministry was also in the process of linking up its digital portal with the UAE to set up a direct link between its intending immigrants and foreign employers.
The initiative would eventually minimize the middle man’s role in the recruitment process, he added, and help the country train its workforce as per the international markets’ requirements.
He said the UAE ministry of human resources and Emiratization had offered to give access to its labor market’s database to Pakistan which would provide updated information of job opportunities in the UAE.
Sharing details of the recent visit of Zulfi Bukhari to Qatar, he said that the SAPM had held a fruitful meeting with Qatar’s Minister of Labor and Social Affairs, Yousaf Mohamed-Al-Othman Fakhroo, and highlighted the potential of the Pakistani workforce.
Bukhari also urged the Qatari minister to expedite the public sector recruitment in the health and energy sectors.
During the meeting, the SAPM also emphasized the need for digital connectivity between the two ministries, which would make the recruitment mechanism more efficient.
Pakistani manpower export to Saudi Arabia goes up by 207 percent
Pakistani manpower export to Saudi Arabia goes up by 207 percent
- A nominal growth of 1.7 percent was also recorded in the number of Pakistanis who found jobs in the UAE
- Officials say Zulfi Bukhari held meetings in different countries to increase the number of Pakistani workers overseas
Pakistan stocks rebound on easing regional tensions, gain over 1,500 points
- The development came after Iran said it was keeping communication channels with Washington open amid cost-of-living protests
- It followed a threat by President Donald Trump last week to intervene militarily if Tehran continued cracking down on protesters
ISLAMABAD/KARACHI: The Pakistan Stock Exchange (PSX) edged higher on Tuesday as the benchmark index gained more than 1,500 points, with analysts citing easing regional tensions following signals of potential talks between Iran and the United States (US).
The benchmark KSE-100 index gained 1,567.36 points, or 0.86 percent, to close at 183,951.50 points, compared to the previous close of 182,384.14 points when the market had shed more than 2,000 points, according to PSX data.
Iran has been witnessing public unrest over worsening economic conditions. Around 2,000 people, including security personnel, have been killed in violent protests, Reuters reported, citing an Iranian official.
Tehran said on Monday that it was keeping communication channels with Washington open as US President Donald Trump imposed 25 percent tariffs on countries trading with the Islamic republic.
“Stocks showed sharp recovery at PSX after Iran and US signal talks over unrest in Iran,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.
“Surging global crude oil prices and speculations ahead of corporate results in the earnings season played a catalyst role in bullish close.”
Najeeb Ahmed Khan Warsi, digital and retail business officer at Al-Habib Capital Market, said the index had seen a three-day bearish streak.
“Geopolitics and global volatility driving downturn, profit-taking and economic concerns weigh in,” he added.
Meanwhile, Pakistani market research firm Topline Securities said the benchmark index ended the session on a “positive note” on Tuesday.
“Trading interest remained subdued, as total market volumes reached 1,033 million shares, while the value of shares traded stood at Rs62.9 billion,” it said in a daily market review on X.
United Bank Limited (UBL), National Bank of Pakistan (NBP), Muslim Commercial Bank Limited (MCB), Lucky Cement Limited (LUCK) and Meezan Bank Limited (MEBL) jointly contributed 936 points to the index, according to the research firm.
Fauji Fertilizer Company Limited (FFC), Sazgar Engineering Works Limited (SAZEW) and Haleon Pakistan Limited (HALEON) collectively shaved 158 points off the index.
“Bank of Punjab (BOP) led the volume rankings, emerging as the most actively traded stock with 73 million shares,” Topline Securities added.
