Saudi Arabia, UAE remain largest sources of remittances to Pakistan — central bank 

A Pakistani dealer counts US dollars at a currency exchange shop in Karachi, Pakistan, on October 9, 2018. (AFP/ File)
Short Url
Updated 14 December 2021
Follow

Saudi Arabia, UAE remain largest sources of remittances to Pakistan — central bank 

  • With $2.4 billion of inflows during November, workers' remittances remain above $2 billion since June 2020 
  • State Bank of Pakistan says proactive measures have contributed towards sustained inflows of remittances 

KARACHI: Saudi Arabia and the United Arab Emirates (UAE) remained the biggest sources of remittances to Pakistan with over $1 billion transferred to the South Asian nation from the two Gulf countries in the month of November, the Pakistani central bank said on Monday. 

With $2.4 billion of inflows during November, workers' remittances continued their strong streak and remained above $2 billion since June 2020, according to the State Bank of Pakistan (SBP). 

In terms of growth, the country's remittances increased by 0.6 percent in November on a year-on-year basis, while they declined by 6.6 percent on a month-on-month basis. 

"Cumulatively, at $12.9 billion, remittances grew by 9.7 percent during the first five months of FY22 over the same period last year," the SBP said in a statement. 

"Remittances inflows during November 2021 were mainly sourced from Saudi Arabia ($590 million), United Arab Emirates ($452.5 million), United Kingdom ($305.8 million) and the United States of America ($237.8 million)." 

Proactive policy measures to incentivize the use of formal channels and altruistic transfers to Pakistan amid the pandemic had contributed towards the sustained inflows of remittances since last year, the central bank said. 

Pakistan has deep-rooted fraternal ties with Saudi Arabia and the UAE. Around 2.5 million Pakistani expats are living in the kingdom and over 1.6 million in the UAE. 

These Pakistanis have greatly contributed to the development of the two Gulf countries, besides being the biggest source of foreign remittances to Pakistan. 


Pakistan and Italy mark 70 years of archaeological cooperation in Swat

Updated 9 sec ago
Follow

Pakistan and Italy mark 70 years of archaeological cooperation in Swat

  • Founded in 1955, Italy’s Swat mission has led excavations and conservation work at major Gandhara sites
  • Italian archaeologists have also contributed to training Pakistani researchers and museum development

ISLAMABAD: Pakistan and Italy marked 70 years of archaeological cooperation, said an official statement on Sunday, with officials highlighting decades of joint work in preserving ancient sites in the country’s northwest, where Italian researchers have played a central role in documenting and conserving remnants of the Gandhara civilization.

The Italian Archaeological Mission in Swat was established in 1955 by Italian scholar Giuseppe Tucci, a leading expert on Asian art and religions, with the aim of studying, excavating and preserving Buddhist and pre-Islamic sites in what is now Pakistan’s Khyber Pakhtunkhwa province.

Over the decades, the mission has become one of the longest-running foreign archaeological projects in the country, working closely with Pakistani authorities and academic institutions.

“Pakistan is committed to advancing archaeological research, conservation and education, and looks forward to deepening cooperation with Italy in both scope and dimension,” Pakistan’s Minister for National Heritage and Culture Aurangzeb Khan Khichi said while addressing a ceremony in Rome marking the mission’s anniversary.

The event was organized by Italy’s International Association for Mediterranean and Oriental Studies (ISMEO), with support from the Italian Agency for Development Cooperation and the University of Venice, and was attended by Pakistani and Italian academics, diplomats and cultural officials.

The Italian mission was originally conceived to systematically document Buddhist sites in the Swat Valley, once a major center of the ancient Gandhara civilization, which flourished from around the first century BCE and became a crossroads of South Asian, Central Asian and Hellenistic influences.

Since its inception, the mission has led or supported excavations and conservation work at several key sites, including Barikot, believed to be ancient Bazira mentioned by classical sources, as well as Butkara and Saidu Sharif, helping establish chronologies, preserve stupas and monasteries and train generations of Pakistani archaeologists.

Italian researchers have also worked with local authorities on site protection, museum development and post-conflict rehabilitation, particularly after natural disasters and periods of unrest that threatened archaeological heritage in the region.

The anniversary program featured sessions on the history of the mission, its collaboration with the provincial government of Khyber Pakhtunkhwa, and future research areas such as archaeobotany, epigraphy and geoarchaeology.

The event was moderated by Professor Luca Maria Olivieri of the University of Venice, who has been associated with archaeological fieldwork in Pakistan for nearly four decades and was awarded Pakistan’s Sitara-e-Imtiaz for his contributions to heritage preservation.

Officials said the mission’s longevity reflected a rare continuity in international cultural cooperation and underscored Pakistan’s efforts to protect its archaeological legacy through partnerships with foreign institutions.