Saudi Arabia remains top contributor as Pakistan remittances increase 3.1 percent month-on-month

A Pakistani dealer counts US dollars at a currency exchange shop in Karachi on November 30, 2018. (AFP/File)
Short Url
Updated 11 September 2023
Follow

Saudi Arabia remains top contributor as Pakistan remittances increase 3.1 percent month-on-month

  • $2.1 billion in remittances sent by Pakistanis working abroad in August this year
  • $490.1 million received from Saudi Arabia, $331.3 million from UK, $308 million from UAE

KARACHI: Pakistan’s remittances increased by 3.1 percent in August on a month-on-month basis, the central bank said on Monday, with Saudi Arabia remaining the largest contributor.

The South Asian country recorded $2.1 billion in remittances sent by Pakistanis working abroad in August this year, according to the State Bank of Pakistan (SBP).

“Remittances inflows during Aug 2023 were mainly sourced from Saudi Arabia ($490.1 million), United Kingdom ($331.3 million), United Arab Emirates ($308.0 million) and United States of America ($262.4 million),” the central bank said.

“Workers’ remittances inflow of $ 4.1 billion has been recorded during Jul-Aug FY24 on a cumulative basis.”

Pakistan and Saudi Arabia have deep cultural, defense and economic ties and the Kingdom is home to over two million Pakistanis and for years has remained the largest contributor to remittance inflows.


Pakistan cricket chief says boycott of India match aimed at restoring Bangladesh’s dignity

Updated 7 sec ago
Follow

Pakistan cricket chief says boycott of India match aimed at restoring Bangladesh’s dignity

  • Mohsin Naqvi says Pakistan sought to highlight Bangladesh’s grievances in World Cup dispute
  • His comments come a day after Pakistan reversed decision to boycott the Feb. 15 India clash

ISLAMABAD: Pakistan’s decision to briefly threaten a boycott of its Twenty20 World Cup match against India was intended to highlight what it saw as unfair treatment of Bangladesh and to press for the concerns raised by Bangladeshi officials to be addressed, Pakistan Cricket Board Chairman Mohsin Naqvi said on Tuesday.

Pakistan withdrew its decision a day earlier to skip the Group A clash scheduled for Feb. 15 in Colombo, ending a week-long standoff with the International Cricket Council (ICC) that had drawn intervention from several member boards amid fears of disruption to the tournament.

“Our objective was only to ensure that Bangladesh was treated with dignity and that the injustice done to them was highlighted,” Naqvi told journalists in Peshawar. “You saw that whatever points Bangladesh raised were accepted. That’s it. We had no personal agenda of our own in this.”

Bangladesh had raised security concerns about playing its World Cup matches in India amid political tensions between the two countries and sought the relocation of its fixtures to Sri Lanka, a request that was turned down by the ICC. Subsequently, Bangladesh chose to withdraw from the tournament and were replaced by Scotland instead.

Pakistan cited Bangladesh’s removal from the original schedule as unjust when it initially instructed its team not to face India, a move that would have resulted in a forfeiture.

The decision led to a crisis situation since the India-Pakistan match is the biggest and most lucrative clash in the world of cricket, leading to a frantic weekend of negotiations.

The reversal allows Pakistan to proceed with the marquee India match after Bangladesh’s concerns were accommodated by the ICC, Naqvi said.

Pakistan, who edged past the Netherlands in their opening game, face the United States today in Group A, with India set to travel to Colombo for the Feb. 15 clash.

Pakistan and India, bitter political rivals, have not played bilateral cricket for more than a decade and meet only at global tournaments at neutral venues.