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Remittances rise 9.4pc in November

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KARACHI: Remittances from overseas Pakistanis, the country’s most reliable source of foreign exchange, remained strong in November, raising hopes the government will be able to manage a widening current account deficit.

The State Bank of Pakistan (SBP) reported on Monday that remittances grew 9.4 per cent year-on-year to $3.2 billion in November, a trend that has remained intact since the beginning of the current fiscal year.

“Cumulatively, with an inflow of $16.1bn, workers’ remittances increased by 9.3pc during Jul-Nov FY26 compared to $14.8bn received during the same period last year,” it added.

In the wake of declining exports, the importance of remittances has further increased. The government is seeking to send more workers abroad, particularly to the Middle East, in the hope of securing higher inflows in the coming months and years.

However, hundreds of thousands of Pakistanis have left the country due to rising poverty and to seek jobs abroad, a trend experts criticise as a “brain drain”. At the same time, at least nine multinational companies have exited Pakistan, reflecting growing unease among foreign investors.

Inflows hit $16.1bn in first five months of FY26

Experts say the government is chasing remittances rather than pursuing a durable strategy to keep trade and current account balances under control. Most of the remittances, which the government expects to reach about $40bn this fiscal year, are likely to be used to narrow the trade deficit and current account gap.

Remittances also provide dollars to the State Bank, which is a regular buyer from the market for partial payments of external debt servicing. The bulk of the external debt is typically rolled over. Saudi Arabia recently rolled over $3bn for another year.

The SBP data shows that the highest remittances came from Saudi Arabia, with inflows rising 6.8pc to $3.902bn during July-November. During the same period last year, the growth from the kingdom had exceeded 36pc.

The second-highest inflows came from the UAE, totalling $3.363bn, a growth of 14pc compared to 55pc in the same period of last year.

Other major corridors included the UK ($2.384bn), the US ($1.385bn), EU countries ($2.118bn), and other GCC states ($1.544bn).

Higher remittance inflows have helped keep the exchange rate broadly stable for more than a year, providing some comfort to both importers and exporters.

Some exporters argue that the rupee is overvalued against the US dollar, citing the greenback’s recent weakness against major international currencies and stressing that there is room for a controlled depreciation to encourage exports. However, the SBP has so far shown little inclination to move in that direction.

Published in Dawn, December 10th, 2025



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Transporters vow to continue strike until demands are accepted

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LAHORE: Traders and transporters have criticised the working style of the Punjab chief minister and have advised her to stop ‘anti-business actions’ as the wheel-jam strike called by the transporters entered its sixth day on Friday.

According to reports, only two transporter groups announced calling off the strike after meeting with the Lahore police. However, other major transport associations rejected the announcement.

“We are yet to receive the material lying at the Karachi Port after being imported from various countries. Likewise, the goods we were to send to various international buyers have been lying at factories for the last six days,” Pakistan Textile Exporters Association (PTEA) Secretary General Azizullah Goheer said while talking to Dawn on Friday.

“The strike is not only causing financial loss but also damaging our credibility and commitment internationally. We are missing vessels through which we booked our export goods. It is a loss of billions,” he said, terming the situation serious.

Question CM’s ‘anti-business’ governance style; claim business activities halted across the country; only two groups call off strike

On the other hand, the traders and goods transporters have joined hands and held a joint press conference against the government for halting business activities through various actions, including implementation of the amended motor vehicle ordinance that empower field officers to impose heavy fines on transporters besides getting FIRs lodged against them for various violations.

“There is no business in Lahore and in the rest of Punjab. Business activities have also come to a grinding halt in Sindh and other provinces due to the closure of goods transport. At present, no goods in the wholesale markets are being transported to other cities from Lahore,” All Pakistan Anjuman Tajiran Pakistan General Secretary Naeem Mir told reporters at a press conference held at the press club.

Flanked by transporters’ representatives, he criticised the chief minister for her governance style and requested her to give the business community access to her office.

“We the traders are already worried due to repeated visits of officers of several departments at our businesses on a daily basis. Now, the wheel-jam strike has choked business activities across Punjab. You (the CM) are our leader. Please listen to us,” the APAT’s general secretary said.

He claimed that the transporters were deceived on the pretext of dialogues, but the government’s senior minister rejected the transport minister’s commitments with the transporters.

“Which governance style is this? Who is giving advice to the government? Why are we being treated like the culprits of May 9 incidents,” he questioned.

Meanwhile, the office bearers of the Mazda Goods Transport Association and the Punjab Goods Transport Alliance announced to call off the strike after meeting with the Lahore police.

“As the DIG police has assured us to resolve the issue, we have decided to call off the strike, we will also meet the CM and the senior minister today (Saturday),” said Muhammad Attique, an office-bearer while talking to this reporter. The alliance also issued a statement to the effect.

However, other major transport associations rejected the announcement. They said that the national-level associations would not end the strike until their demands were accepted.

“Only two groups have announced to call off the strike, but we are not with them. Moreover, the strike is being observed across the country and not just Punjab,” All Pakistan Truck Trailer Owners Association chief Lala Yasir Naseer told Dawn when contacted.

“We will only call off the strike after suspension of the disputed clauses of the motor vehicle ordinance and other highhandedness with the transporters on the part of enforcement officers,” he said.

Transporters of Goods Association (TGA) Chairman Tariq Gujjar said that the strike was being observed across the country and, at present, all three ports in Karachi were closed.

“Our several trucks, trailers are impounded in Punjab due to the implementation of the ordinance and other issues. Similarly, the Sindh government has also issued a letter to implement laws related to operating old trucks and was taking similar actions,” he explained.

He said that one of their demands was to provide adequate parking for goods transport at all three ports in Karachi.

“We are with the transporters of Punjab and other provinces and will continue our strike till the acceptance of our demands,” he warned.

Published in Dawn, December 13th, 2025



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Pakistan expected to become member of olive council: minister

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ISLAMABAD: Minister for National Food Security and Research Rana Tanveer Hussain on Friday said Pakistan was expected to become a member of the International Olive Council (IOC) within a couple of months, which will enhance global recognition of its olive industry.

He was inaugurating a three-day ‘National Olive Festival’, which opened at F-9 Park on Friday.He said olive sector is one of the strongest drivers of economic and social development in rural areas, where it promotes growth, generates stable employment and create opportunities.

The annual olive festival marked a major milestone in Pakistan’s journey towards a sustainable and competitive olive sector with display of olives and olives products and enthusiastic participation from provinces and organisations. The festival aims to promote olive cultivation, local farming, food security, and modern agriculture in Pakistan. Olive lovers and families enthusiastically attended the opening day of the festival.

The minister appreciated the support of the Italian government for the development of Pakistan’s olive sector, noting that Italy is providing technical assistance and has also approved a 20 million euros project for Pakistan.

He noted that olives constitute a major global agricultural industry, citing Spain’s $11 billion and Italy’s significant annual exports. In comparison, Pakistan’s total agricultural exports stand at $9 billion, while the country spends $4 billion annually on importing palm oil.

He emphasised that by increasing domestic olive production, Pakistan will not only meet its own needs but also generate valuable foreign exchange through exports in the coming years.

He stressed that the government is prioritizing the supply of quality saplings, research, modern oil extraction facilities, and overall improvement of the value chain.

Upgrading olive packaging, branding, and marketing to international standards, he said, is essential.

The minister termed the olive festival as a significant milestone for Pakistan, stating that Pakistan has vast potential for olive cultivation and that the crop is no longer an experiment but has now matured into a fully emerging industry.

Rana Tanveer Hussain reiterated that farmers are the backbone of the country and assured that the government will extend all possible support to them.

Published in Dawn, December 13th, 2025



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Senate panel okays Railways bill

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ISLAMABAD: The Senate Standing Committee on Railways on Friday unanimously passed the draft of the ‘Transfer of Railways Amendment Bill, 2025’, aimed at attracting investment through track access.

Railways Minister Muhammad Hanif Abbasi briefed the committee on the rationale behind the initiative, saying that it would benefit the Reko Diq mining project by improving logistics.

The committee, headed by Senator Jam Saifullah Khan, was told that provincial governments were also interested in investing in Pakistan Railways, and these amendments would enable them to contribute to the railway infrastructure.

Move to attract investment through track access, benefit Reko Diq project

The amended bill provides track access for operating rolling stock on the Pakistan Railways network to improve efficiency, facilitate competition, boost revenue, strengthen safety planning, and support investment in freight and passenger services using operators’ own locomotives and rolling stock.

Proposed railway board

Senator Rubina Khalid pointed out the absence of the minister, as a public representative, from the proposed railway board.

The committee chairman asked the railways minister to address the issue at the earliest. He directed the inclusion of the federal railways minister on the board to ensure stronger oversight and accountability.

The committee also proposed several measures for improvement within Pakistan Railways, and advised the ministry to approach the chambers of commerce to attract investment and expand public-private partnerships.

The chairman directed the ministry to extend the ongoing improvements, such as the installation of LEDs at major stations to smaller ones as well.

He also instructed the ministry to step up public awareness efforts on safety near railway tracks.

The committee reviewed an issue raised by Senator Shahadat Awan, who voiced concern about the possible impact on serving employees. The panel urged the minister to safeguard the interests of the serving staff.

The chairman directed the ministry to present a comprehensive briefing at the next meeting on outsourcing in railways, new hiring, its effects on the serving employees, manpower planning, budget implications, and revenue trends before and after outsourcing.

Published in Dawn, December 13th, 2025



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