Saudi Arabia remained largest source of remittances to Pakistan in November — central bank

Pakistani customers enter a foreign currency exchange shop in Karachi, Pakistan, on October 14, 2010. (AFP/File)
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Updated 14 December 2022
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Saudi Arabia remained largest source of remittances to Pakistan in November — central bank

  • Latest figures show remittances decreased by 4.8 percent month-on-month and by 14.3 percent on year-on-year basis
  • Saudi Arabia is a longtime ally of Pakistan, nearly 2.5 million Pakistani expats live and work in the kingdom

KARACHI: Saudi Arabia retained its position as the largest contributor of remittances to Pakistan in November, with expats working in the kingdom sending $498 million to the South Asian nation last month, the central bank said on Wednesday. 

In terms of growth, latest figures showed that remittances decreased by 4.8 percent month-on-month and by 14.3 percent on a year-on-year basis.

“Remittances inflows during Nov 2022 were mainly sourced from Saudi Arabia ($498 million), United Arab Emirates ($377.8 million), United Kingdom ($299.1 million) and United States of America ($229.4 million),” the central bank said. 

“With cumulative inflow of $ 12 billion during Jul-Nov FY23, the remittances decreased by 9.6 percent as compared to the same period last year.”

Saudi Arabia and the UAE are longtime allies of Pakistan. Nearly 2.5 million Pakistani expats live and work in the kingdom and more than 1.6 million in the UAE.


Pakistan, China to sign multiple MoUs at major agriculture investment conference today

Updated 18 January 2026
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Pakistan, China to sign multiple MoUs at major agriculture investment conference today

  • Hundreds of Chinese and Pakistani firms to attend Islamabad event
  • Conference seen as part of expanding CPEC ties into agriculture, trade

KARACHI: Islamabad and Beijing are set to sign multiple memorandums of understanding (MoUs) to boost agricultural investment and cooperation at a major conference taking place in the capital today, Monday, with hundreds of Chinese and Pakistani companies expected to participate.

The conference is being billed by Pakistan’s Ministry of National Food Security and Research as a platform for deepening bilateral agricultural ties and supporting broader economic engagement between the two countries.

“Multiple memorandums of understanding will be signed at the Pakistan–China Agricultural Conference,” the Ministry of National Food Security said in a statement. “115 Chinese and 165 Pakistani companies will participate.”

The conference reflects a growing emphasis on expanding Pakistan-China economic cooperation beyond the transport and energy foundations of the flagship China-Pakistan Economic Corridor (CPEC) into agriculture, industry and technology.

Under its first phase launched in 2015, CPEC, a core component of China’s Belt and Road Initiative, focused primarily on transportation infrastructure, energy generation and connectivity projects linking western China to the Arabian Sea via Pakistan. That phase included motorways, power plants and the development of the Gwadar Port in the country's southwest, aimed at helping Pakistan address chronic power shortages and enhance transport connectivity.

In recent years, both governments have formally moved toward a “CPEC 2.0” phase aimed at diversifying the corridor’s impact into areas such as special economic zones, innovation, digital cooperation and agriculture. Second-phase discussions have highlighted Pakistan’s goal of modernizing its agricultural sector, attracting Chinese technology and investment, and boosting export potential, with high-level talks taking place between planning officials and investors in Beijing.

Agri-sector cooperation has also seen practical collaboration, with joint initiatives examining technology transfer, export protocols and value-chain development, including partnerships in livestock, mechanization and horticulture.

Organizers say the Islamabad conference will bring together government policymakers, private sector investors, industry associations and multinational agribusiness firms from both nations. Discussions will center on investment opportunities, technology adoption, export expansion and building linkages with global buyers within the framework of Pakistan-China economic cooperation.