Islamabad: The remittances of Pakistanis working in Saudi Arabia Monday recorded a growth of 6% on annual basis during November.

According to State Bank of Pakistan (SBP) data, Pakistanis working in Saudi Arabia remitted $540 million in foreign exchange to the country in November 2023, which is six percent more than the same period of the previous fiscal year.

During the same period of last financial year, Pakistanis working in Saudi Arabia sent 512 million dollars in foreign exchange to the country.

Compared to October, remittances from Saudi Arabia in November recorded a 12% decrease on a monthly basis. The volume of remittances from Saudi Arabia in October was recorded at 617 million dollars, which decreased to 540 million dollars in November.

In the first five months of the current financial year, Pakistanis working in Saudi Arabia sent a total of 2.673 billion dollars in foreign exchange to the country. In the same period of the previous financial year, Pakistanis working in Saudi Arabia sent foreign exchange to the country of 3.041 million dollars.

It is pertinent to note that in the first five months of the current fiscal year, the total remittance volume of overseas Pakistanis has been recorded at 11.045 billion dollars, which is 10 percent less than the same period of the previous fiscal year.

In the same period of last financial year, overseas Pakistanis sent 12.318 billion dollars in foreign exchange to the country.

Peshawar: The Peshawar High Court (PHC) Monday restrained the Election Commission of Pakistan (ECP) from ruling against Pakistan Tehreek-e-Insaf (PTI) on latest intra-party elections.

According to the details, a two-member bench comprising Justice Ateeq Shah and Justice Shakeel Ahmed of the PHC heard the case against the Election Commission issuing a notice to PTI regarding intra-party elections.

Qazi Anwar Advocate said in the court that the Election Commission cannot hear the case against the intra-party elections, but the Commission can take the bat sign from Tehreek-e-Insaf.

The court inquired as to how you can infer this from now on. Qazi Anwar replied that the Election Commission is exceeding its jurisdiction.

Newly elected Chairman PTI Barrister Gauhar said that there are 175 political parties, so far no one has challenged the intra-party elections, and whoever challenged the party elections is not a part of it.

Barrister Gohar stated that the ECP issued a notice that if they do not appear, the case will be heard in absentia. We have reservations about the commission, only our case was heard in the foreign funding case. The notice sent by the Election Commission is illegal. The court inquired if they mean there is no provision in the law to challenge intra-party elections.

Later, the PHC ordered the ECP to submit its reply within seven days, restraining it from taking a decision against the PTI on the intra-party elections.

Speaking to the media outside the court, Barrister Gohar Ali Khan said that Imran Khan is the lifetime chairman of PTI, he is a democratic personality and PTI will not boycott the upcoming elections.

He added that High Court has stopped the Election Commission from taking adverse action. If the case was not filed, the Election Commission would have changed the symbol of the bat, which is not acceptable in any case.

The Chairman of Tehreek-e-Insaf continued that the ECP issued 12th date and ordered to appear before the Commission. However, they have good hopes from the Judiciary.

Islamabad: The Asian Development Bank (ADB) Monday approved financing of 155 million dollars for Pakistan.

According to the announcement by the Asian Development Bank, the money will start a reform program for women who will have better access to credit for micro, small and medium enterprises.

The statement said that the financing amount includes $10 million policy loan and the program includes a grant of $5.5 million, while $5 million will be given to lending institutions.