Business

Pakistan records 11.3% growth in remittances in July-Dec 2021

Remittances in terms of growth increased by 2.5% on month-on-month basis and 3.4 % on year-on-year basis in December

Published

6 months ago

Jan 15, 2022 06:18 PM

WebDesk

Pakistan records 11.3% growth in remittances in July-Dec 2021

GNN Media: Representational Photo

Karachi: The workers remittances grew by 11.3 percent during the first half of the current fiscal year as compared to the corresponding period of last year, the State Bank of Pakistan (SBP) has reported.

The workers remittances during July-December of fiscla year 2021-22 were recorded at $15.8 billion.

With $2.5 billion of inflows during December 2021, workers’ remittances continued their strong impetus of remaining above $2 billion since June 2020.

In terms of growth, remittances increased by 2.5% on month-on-month basis and 3.4 % on year-on-year basis in December 2021.

Remittance inflows during December 2021 were mainly sourced from Saudi Arabia ($626.6 million), United Arab Emirates ($453.2 million), United Kingdom ($340.8 million) and United States of America ($248.5 million).

The proactive policy measures by the government and SBP to incentivize the use of formal channels and altruistic transfers to Pakistan amid the pandemic have positively contributed towards the sustained inflows of remittances since last year, the SBP statement added.

The Jul-Nov FY22 data of workers’ remittances has been revised upward to reflect inflows into Roshan Digital Accounts (RDA) that are related to local consumption (like payment of utility bills, transfer to local PKR account, etc.).

SOURCE: APP

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Youm-e-Ashur to be observed with due solemnity on Tuesday

Mourning processions will be taken out in all cities and towns of the country.

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Aug 08, 2022 09:06 AM

WebDesk

Youm-e-Ashur to be observed with due solemnity on Tuesday

Lahore: Yaum-e-Ashur, the tenth of Moharram-ul-Haram, will be observed on Tuesday across the country with due solemnity to pay homage to the supreme sacrifice rendered by Hazrat Imam Hussain Razi Allah ho Ta'ala Anho and his devoted companions in Karbala.

Mourning processions will be taken out in all cities and towns of the country.

Ulema and Zakireen will highlight the bright and candid teachings of Hazrat Imam Hussain (R.A.) and various aspects of Karbla tragedy.

Meanwhile, in connection with the 9th Muharram today, Taazia and Zuljanah processions will be taken out in different parts of the country in memory of the martyrs of Karbala.

Elaborate security arrangements have been made to avoid any untoward incident during the mourning processions.

Pakistan

Social media campaign against sacrifices of martyrs, horrifying: PM

"Self-righteous political narratives spurring hate speech"

Published

1 day ago

Aug 07, 2022 05:09 PM

WebDesk

Social media campaign against sacrifices of martyrs, horrifying: PM

Islamabad: Prime Minister Muhammad Shehbaz Sharif on Sunday while expressing his displeasure said that the social media campaign, aimed at belittling and ridiculing the sacrifices of martyrs, was horrifying.

On his Twitter handle, he observed that the self-righteous political narratives were poisoning the minds of the youth and spurring hate speech.

Terming the campaign horrifying, the Prime Minister called for a deep reflection of the direction, all this is taking us to as a nation.

Pakistan

UAE intends to invest in diverse sectors of Pakistan: PM

Both brotherly countries are very keen to further strengthen their multifaceted relationship.

Published

7 hours ago

Aug 08, 2022 10:00 AM

WebDesk

UAE intends to invest in diverse sectors of Pakistan: PM

Islamabad: Prime Minister Shehbaz Sharif says United Arab Emirates (UAE) is going to make investment in various sectors of Pakistan.

In a tweet, he said both brotherly countries are very keen to further strengthen their multifaceted relationship.

Grateful to my brother His Highness Sheikh Mohammed Bin Zayed Al-Nahyan @MohamedBinZayed
for the investment that the UAE is going to make in various sectors of Pakistan. Both brotherly countries are very keen to further strengthen their multifaceted relationship.
— Shehbaz Sharif (@CMShehbaz) August 7, 2022

Terming Sheikh Mohammed Bin Zayed Al-Nahyan as his brother, the Prime Minister extended thanked him for investment in Pakistan.

Meanwhile, Prime Minister Shehbaz Sharif held a telephonic conversation with Amir of Qatar, Sheikh Tamim Bin Hamad Al Thani.

The two leaders exchanged views on issues of mutual interest.

Pakistan and Qatar enjoy close and cordial relations and Qatar is home to over two hundred thousand Pakistani diaspora that is playing a pivotal role in development of both countries.