Saudi Arabia top contributor as Pakistan worker remittances grow 47.6 percent year-on-year

A Pakistani dealer counts US dollars at a currency exchange shop in Karachi on November 30, 2018. (AFP/File)
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Updated 11 August 2024
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Saudi Arabia top contributor as Pakistan worker remittances grow 47.6 percent year-on-year

  • Remittances from Saudi Arabia and United Arab Emirates were clocked in at $761.1 million and $611.1 million, respectively 
  • Remittances bolster Pakistan’s foreign exchange reserves, stabilize balance of payments and support national currency

ISLAMABAD: Overseas workers’ remittances to Pakistan increased by 47.6 percent on a year-on-year basis in July 2024, the State Bank of Pakistan reported this week, with Saudi Arabia remaining the top contributor for the South Asian country. 

Remittances bring billions of dollars annually from overseas Pakistanis and are vital to Pakistan’s economy. These inflows bolster foreign exchange reserves, stabilize the balance of payments, and support the Pakistani currency. 

“In terms of growth, during July 2024, remittances increased by 47.6 percent on y/y basis,” the SBP said in a press release on Saturday. 

The central bank disclosed that Saudi Arabia remained the top contributor with $761.1 million in remittances during July 2024, followed by the United Arab Emirates (UAE) from where remittances amounting to $611.1 million were received. 

Workers’ remittances amounting to $443.5 million from the UK were received while from the United States, Pakistan received workers’ remittances of $300.1 million. 

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

Remittances play a major role in supporting Pakistan’s external account, especially at a time when the country is recording small gains after a prolonged economic crisis that diminished its foreign exchange reserves and weakened its national currency. 


Pakistan to play India in T20 World Cup, government says

Updated 09 February 2026
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Pakistan to play India in T20 World Cup, government says

  • Islamabad announced boycotting the Feb. 15 match in Colombo to protest the ICC’s exclusion of Bangladesh from the T20 World Cup
  • Pakistan’s government says the decision to play India is taken to protect ‘spirit of cricket and to support the continuity of global sport’

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif has cleared the country’s cricket team to play India in the T20 World Cup on Feb. 15, the Pakistani government announced late Monday, ending a week-long standoff.

Islamabad announced boycotting the Feb. 15 match in Colombo to protest the International Cricket Council’s (ICC) exclusion of Bangladesh from the T20 World Cup, following Dhaka’s decision to not play matches in India owing to security fears.

On Sunday, ICC Deputy Chairman Imran Khwaja arrived in Lahore for talks with Pakistan Cricket Board (PCB) officials and Bangladesh Cricket Board (BCB) President Aminul Islam as the sport’s governing body strived to save the high-stakes T20 World Cup encounter.

PCB Chairman Mohsin Naqvi met PM Sharif late Monday and briefed him regarding the outcomes of high-level deliberations held between the PCB, Bangladesh board and ICC representatives, the Pakistani government said on X.

“The Government of Pakistan has reviewed the formal requests extended to the PCB by the Bangladesh Cricket Board, as well as the supporting communications from Sri Lanka, the United Arab Emirates, and other member nations. These correspondences sought Pakistan’s leadership in securing a viable solution to recent challenges,” the Pakistani government said.

“In view of the outcomes achieved in multilateral discussions, as well as the request of friendly countries, the Government of Pakistan hereby directs the Pakistan National Cricket Team to take the field on February 15, 2026, for its scheduled fixture in the ICC Men’s T20 World Cup.”

The BCB earlier thanked the PCB, ICC and all others for their positive roles in trying to “overcome recent challenges,” particularly thanking PCB Chairman Naqvi and Pakistani cricket fans for demonstrating “exemplary sportsmanship and solidarity.”

“We are deeply moved by Pakistan’s efforts to go above and beyond in supporting Bangladesh during this period. Long may our brotherhood flourish,” BCB President Islam said in a statement.

“Following my short visit to Pakistan yesterday and given the forthcoming outcomes of our discussions, I request Pakistan to play the ICC T20 World Cup game on 15 February against India for the benefit of the entire cricket ecosystem.”

The dispute stemmed from the ICC’s decision to replace Bangladesh with Scotland last month after Bangladesh refused to play tournament matches in India. Dhaka’s decision followed the removal of Mustafizur Rahman from the Indian Premier League (IPL). He was bought for $1 million by the IPL’s Kolkata Knight Riders, but on Jan. 3 the Board of Control for Cricket in India (BCCI) ordered Kolkata to release Mustafizur without a public explanation but amid regional tensions.

Pakistani cricket authorities subsequently announced boycotting the match against India at R. Premadasa Stadium in Colombo on Feb. 15. An India-Pakistan fixture is the sport’s most lucrative asset, generating a massive share of global broadcasting and sponsorship revenue.

“This decision [to play India in T20 World Cup] has been taken with the aim of protecting the spirit of cricket, and to support the continuity of this global sport in all participating nations,” the Pakistani government said.

“We remain confident that our team will carry the spirit of sportsmanship and national pride onto the field as they compete for global glory.”