Category: 1. Pakistan

  • Aid pours in as floods wreck northern Pakistan

    Aid pours in as floods wreck northern Pakistan



    ANI |
    Updated:
    Sep 05, 2025 09:29 IST

    Islamabad [Pakistan], September 5 (ANI): The United Kingdom and the United Nations have announced additional humanitarian assistance to Pakistan as severe flooding devastates the northern region and Punjab, with Sindh facing impending threats, Dawn reported.
    On Thursday, the UK announced an additional £1.2 million to support the government’s coordinated response and help communities in Sindh prepare for floods.
    According to a press release from the British High Commission, this brings the UK’s total humanitarian assistance to £2.53m, providing life-saving support to more than 400,000 people.
    The funds will be channelled through non-governmental organisations in Sindh to strengthen early warning systems, enable community evacuations, pre-position essential supplies and protect livestock.
    “Sindh is in a critical window to prepare and reduce the impact of the upcoming floods,” British High Commissioner Jane Marriott said. “For every dollar spent on prevention, up to seven dollars are saved in response. More importantly, lives are saved, and destruction is avoided,” Dawn reported.
    The new aid package follows GBP 1.33m announced on August 22 for early response and relief operations in Khyber-Pakhtunkhwa, Punjab and Gilgit-Baltistan. That support includes food rations, search and rescue operations, mobile medical camps and the restoration of irrigation channels.

    The UK has also contributed GBP 500,000 to the Start Ready Disaster Risk Financing system in Pakistan, funds that will assist 20,000 people across Punjab, Sindh and KP.
    The UN is working closely with Pakistani authorities to assess the humanitarian impact of the floods. Emergency Relief Coordinator Tom Fletcher released USD 600,000 from the Regional Humanitarian Pooled Fund to support relief and recovery operations, the UN Information Centre in Islamabad said.
    UN Secretary-General Antonio Guterres expressed solidarity with Pakistan and commended the authorities for relocating more than one million people in Punjab, according to a statement issued by spokesperson Stephane Dujarric, Dawn reported.
    Meanwhile, Pakistan’s Federal Ministry of Health has issued advisories to curb the heightened risk of disease outbreaks following widespread water contamination.
    The National Institutes of Health (NIH) has warned of rising threats from cholera, typhoid, dengue fever, chikungunya and malaria. The ministry urged citizens to follow protocols outlined in advisories posted on its website and that of the NIH.
    Separately, the UN’s Food and Agriculture Organisation (FAO) said in its “Desert Locust Bulletin” that Pakistan faces no immediate locust threat.
    Surveys in August found no locusts in key summer breeding areas, though very small-scale breeding may still occur. “No significant developments are expected,” the report noted, as quoted by Dawn. (ANI)


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  • Punjab CM under fire over ‘port-a-loo’ gaffe – Newspaper

    Punjab CM under fire over ‘port-a-loo’ gaffe – Newspaper

    LAHORE: Punjab Chief Minister Maryam Nawaz came under fire from social media users on Thursday for sharing a two-year old image and claiming that it showed measures taken for the rehabilitation of flood victims.

    “Innovated portable washrooms constructed and placed at relief camps in Chiniot,” she wrote on X, uploading a photo of a portable washroom.

    But the image attached to the post — while showing a port-a-loo — also carries the date it was taken, which shows that it was taken in 2023.

    Eagle-eyed social media users soon spotted that the photo did not appear to be recent, and was taken from the website of an online marketplace.

    “Maryam should seriously consider sacking her PR & media team,” a journalist suggested on X (formerly Twitter).

    Following the brouhaha over the outdated image, X accounts linked to PML-N began uploading images and videos from Chiniot, showing the actual portable washrooms that had been provided for those hit by the flood.

    The account claimed that the Chiniot administration had shared the fresh video, adding that portable bathrooms are available in the field for flood victims to ensure their dignity was protected.

    “The photo shared by the CM was shown as an example on a trial basis,” the account @EPropoganda1 wrote – which usually offers alternative views to posts that appear sympathetic to the PTI’s cause on social media.

    A few days ago, the Punjab CM had hauled up the Mandi Bahauddin Deputy Commissioner for displaying her photograph on a mosque and ordered all departments to follow SOPs regarding the use of her likeness.

    Published in Dawn, September 5th, 2025


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  • Pera tasked with checking wheat hoarding – Newspaper

    Pera tasked with checking wheat hoarding – Newspaper

    LAHORE: The Punjab Enforcement and Regulatory Authority (Pera) has been tasked with checking wheat hoarding.

    Chief Minister Maryam Nawaz on Thursday presided over a meeting to take strict measures to maintain prices of wheat, flour and bread in the province here on Thursday.

    She directed the authorities concerned to ban use of wheat in feed mills, for which section 144 should be imposed.

    Action should be taken against those who were involved in increasing prices of flour and bread under the guise of floods. The meeting was informed that the price control magistrates had been mobilised to stop wheat hoarding. She said the price of roti should not increase by more than Rs14, and the price of a 20kg flour bag should not increase by more than Rs1,810. She vowed not to allow prices of flour and roti to increase due to floods.

    Meanwhile, the CM visited the Chuhng flood relief camp and met with the flood- affected people. She had a chat with the children in a temporary classroom, asked them various questions, and expressed her affection for them.

    She directed health screening of all children residing in the flood relief camp. She vowed rehabilitation of flood victims. “We are reviewing water situation, and will help in building your houses. Don’t worry, we are with you and will support you,” she told them.

    The chief minister was informed that 4,891 villages had been affected by floodwater. Some seven relief camps, 17 medical camps and nine livestock camps have been established in Lahore.

    Published in Dawn, September 5th, 2025

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  • Salaried class pays 21% more tax

    Salaried class pays 21% more tax


    ISLAMABAD:

    Salaried individuals have paid 21% more in income tax during the first two months of this fiscal year, contributing Rs85 billion, showing that the nominal reduction in rates in the budget was insufficient to ease their financial burden.

    Compared to Rs70 billion in income tax payments during July-August of the last fiscal year, their contributions surged to about Rs85 billion this year, government sources told The Express Tribune. They paid roughly Rs15 billion, or 21% more, despite the government having nominally reduced their income tax rates in this year’s budget. Finance Minister Muhammad Aurangzeb acknowledged that the relief was minimal due to almost no fiscal space available.

    The 21% increase in income tax payments was over and above an already higher base from last year when the salaried class’s contributions jumped by more than half due to abnormal increases in their rates. The record-high contributions by people, who pay income tax on gross salaries without having the luxury to adjust expenses, substantially reduced the take-home salaries of a large segment of society.

    In the last fiscal year, salaried persons paid Rs555 billion in income taxes, 51% or Rs188 billion more than the preceding fiscal year. In the budget, the government marginally reduced the tax burden of people earning up to Rs3.2 million annually, claiming it would give them a Rs56 billion benefit. But compared to actual contributions, this nominal relief was like a drop in the bucket.

    Details showed that non-corporate sector employees paid Rs41.5 billion in income tax in the last fiscal year, up by Rs8.5 billion or 26%. Corporate sector employees paid Rs20 billion, also higher by Rs5.2 billion or 26%. The spokesman of the Federal Board of Revenue (FBR), Dr Najeeb Memon, did not respond to a question regarding the increasing burden on the salaried persons despite a nominal cut in their rates.

    Employees of provincial governments paid nearly Rs10.5 billion in taxes, up by Rs626 million or 6%. Federal government employees paid Rs7.6 billion, higher by Rs552 million or 8%, according to provisional figures compiled by the FBR for July-August.

    The government’s new tax on wealthy pensioners has failed to yield higher revenues, showed the results. In the budget, the government imposed income tax was imposed on pensions valued at more than Rs10 million annually. However, the FBR collected only Rs180 million in two months, indicating that the annual collections may be little over Rs1 billion, said the sources.

    Parliamentary committees are also currently probing the perks and salaries of the Securities and Exchange Commission of Pakistan (SECP) officials. The office of the Auditor General of Pakistan (AGP) had raised initial objections over an abnormal increase in the salaries of SECP commissioners and the chairman, which the SECP board approved on the management’s recommendation.

    The Senate Standing Committee on Finance this week discussed the issue in detail and objected to giving salaries to a commissioner against 17 heads. Senator Anusha Rahman of the Pakistan Muslim League-Nawaz criticised giving 10% of the total salary as house rent allowance and another 10% as utility allowance to a commissioner. She also objected to club memberships.

    This week, the AGP presented details of the audit objections in the standing committee, which showed that a commissioner was getting up to Rs1.9 million annually on account of security guard payments. Contrary to this, there were low-paid daily wagers working in the government who were not even receiving the minimum monthly wage, according to proceedings of the National Assembly Standing Committee on Finance.

    Rahman has introduced a private member bill in the Senate to withdraw the SECP board powers to determine management salaries. She is planning to move a similar bill to strip the State Bank of Pakistan board of such powers.

    While the salaried class’s tax contributions are constantly on the rise, the government has failed to collect due taxes from traders. Several enforcement measures have already been reversed including the biggest one which was to ban economic transactions by ineligible persons. This initiative was rendered ineffective after the government exempted most of the transactions from the purview of the new law, and accepted cash deposits in banks as equal to digital transactions.

    Over the period, the government also increased the tax burden on the real estate sector by raising rates for non-filers and introducing a new category of late filers in the budget. This has impacted the growth of the sector, in addition to other initiatives aimed at discouraging investment in undeveloped lands.

    In this budget, the government made adjustments in the withholding tax rates on sales and the purchase of plots. As a result, the government collected Rs28 billion on sales of plots, higher by 92% or Rs13.4 billion. However, the collection on the purchase of properties amounted to less than Rs13 billion, down by Rs2 billion or 12%.

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  • SC expresses displeasure after KP Police arrest spinal cord patient from hospital

    SC expresses displeasure after KP Police arrest spinal cord patient from hospital

    ISLAMABAD   –  The Supreme Court of Pakistan on Thursday expressed its strong displeasure at the Khyber Pakhtunkhwa Police for arresting a spinal cord operation patient from a hospital by the Swat Police. A two-member bench headed by Justice Hassan Azhar Rizvi heard the case. During the hearing, Justice Hassan Azhar Rizvi inquired whether the police took permission from the hospital or the doctor before arresting the patient? Can the police arrest a patient who is lying on the bed like this? The accused had undergone a spinal cord operation after which the accused could not walk, he noted. Justice Shahzad Malik remarked that the KP Police wrote in the report that the accused was not well after the operation. The accused may be a bad person, but he also has some rights. The public prosecutor said that nowadays, the patient starts walking on the second day of the operation. To which Justice Shahzad Malik told the lawyer that not everyone is a Sultan Rahi, it happens in films where the hero gets up and stands up even after being shot.

    The court adjourned the hearing for 2 weeks, seeking a forensic report from the accused on the bail application.


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  • ‘CPEC 2.0’ formally set in motion in Beijing

    ‘CPEC 2.0’ formally set in motion in Beijing


    BEIJING:

    Pakistan and China on Thursday inked bilateral accords worth $8.5 billion in various sectors, with Prime Minister Shehbaz Sharif terming the development a “long march of economic growth”.

    The Chinese and Pakistani companies have signed $7 billion memoranda of understanding and $1.54 billion joint ventures (totaling $8.5 billion) in sectors including agriculture, electric vehicles, solar energy, health, chemical and petrochemicals, irons and steel besides others, at the Second Pakistan-China B2B Investment Conference held in Beijing.

    In his keynote address on the occasion, the prime minister said the “long march” would lead to growth of enormous opportunities of investment and job creation.

    The prime minister unveiled a new vision for Pakistan-China economic cooperation, announcing the formal launch of “CPEC 2.0” which will attract investment into diverse sectors.

    Welcoming the high-level delegates, the prime minister described the forum as a reflection of the iron-clad brotherhood between Pakistan and China.

    Addressing concerns about bureaucratic delays, the prime minister assured the Chinese investors to remove all red tape hiccups in investments. He issued a clear and direct message: “We will not tolerate a second’s delay. I recently ensured that a Chinese entrepreneur was facilitated within 24 hours. That’s the level of commitment I am talking about.”

    He reassured the Chinese delegation of Pakistan’s unwavering commitment to investor facilitation, stating that Chinese investors will be treated as partners and that “Pakistan is your second home, just as China is ours.”

    Security of Chinese nationals in Pakistan, he said was a top priority, adding “the safety of Chinese citizens is paramount.”

    “This is one of the largest business conferences I have attended during my visit to this great country. Our relationship with China is unmatched, higher than the Himalayas, deeper than the deepest oceans, sweeter than honey and stronger than steel,” said the prime minister.

    Referring to the China-Pakistan Economic Corridor (CPEC) agreement signed in 2015 during President Xi Jinping’s historic visit to Pakistan, Prime Minister Shehbaz Sharif credited the first phase of CPEC with transforming Pakistan’s energy and infrastructure landscape.

    “We were facing up to 20 hours of power outages daily. Today, thanks to President Xi’s dynamic and visionary leadership, Pakistan became energy self-sufficient. That was the turning point,” he noted.

    PM Shehbaz Sharif announced the launch of CPEC 2.0, which will shift focus toward business-to-business (B2B) investments in agriculture, IT and AI, minerals, and industrial relocation.

    “Our agriculture sector employs 60% of our population. China has excelled in this field, and we seek your partnership to modernize our agricultural practices and increase exports,” he urged Chinese investors.

    He emphasized the role of Special Economic Zones (SEZs) in attracting investment, offering competitive advantages such as cheaper skilled labor and joint ventures to produce high-quality export goods.

    In an emotionally charged segment of his speech, Prime Minister Shehbaz recounted his first visit to China in 1982.

    “Even back then, I said China is suffering from success, not failure. Today, China is the second-largest economy and a global military power, having lifted over 700 million people out of poverty. This is the model I want to borrow and replicate in Pakistan,” he said.

    He commended President Xi Jinping’s leadership in promoting multilateralism and shared prosperity, saying that China has changed the destinies of many nations, a testament to its “visionary and dynamic leadership.”

    In his closing remarks, Prime Minister Shehbaz Sharif reiterated his determination to transform Pakistan’s economic landscape. “We know the path is difficult, but not impossible. With China’s support and our commitment, we will make Pakistan a strong and vibrant economy. Let today mark the beginning of that journey.”

    Chinese and Pakistani investors, government officials, and dignitaries, including Deputy Prime Minister Ishaq Dar, the Ambassador of Pakistan to China Khalil Hashmi, and Chairman of China Council for the Promotion of International Trade, federal ministers and others were present on the occasion.

    Chinese PM

    Pakistan and China, expressing satisfaction over the positive trajectory of their relations, on Thursday agreed to continue working closely on CPEC 2.0, with its five new corridors.

    The bilateral ties and cooperation were discussed in a meeting between PM Sharif and Chinese Premier Li Qiang.

    During their “warm and friendly” meeting, the prime minister expressed his deepest gratitude to the Chinese leadership and nation for their unflinching support to Pakistan’s territorial integrity, sovereignty, and socio-economic development.

    Building on the important consensus reached between President Xi and the prime minister in their meeting on Tuesday, both leaders reaffirmed their shared resolve to further strengthen the iron-clad, all-weather strategic cooperative partnership between Pakistan and China. The signing of the Joint Action Plan 2024-2029 was deemed as an important step in this regard.

    The prime minister congratulated the Chinese leadership on the successful hosting of the SCO Council of Heads of State Summit in Tianjin and extended his felicitations to China on the 80th anniversary of the success of the Chinese people in the War of Resistance and World’s Anti-Fascist War.

    The prime minister reiterated Pakistan’s support for President Xi’s landmark initiatives to strengthen multilateralism, including the Global Governance Initiative, Global Development Initiative, Global Security Initiative as well as Global Civilisation Initiative.

    Both countries would celebrate the 75th anniversary of the establishment of Pakistan-China diplomatic ties next year.

    The two leaders also attended the ceremony of exchanging of memorandums of understanding and agreements signed and announced between the two countries with regard to cooperation in the development of CPEC 2.0, science and technology, IT, media, agriculture, etc.

    The delegation-level talks were followed by a sumptuous luncheon, hosted by the Chinese Premier in honor of the prime minister and his delegation.

    PM assurance

    PM Sharif on Thursday reiterated Pakistan’s vision of deepening bilateral cooperation with China in industries, agriculture, trade, ICT, mining and minerals.

    He was talking to China’s Minister of Industry and Information Technology, Li Lecheng who called on him.

    The prime minister regarded China Pakistan Economic Corridor (CPEC) as central pillar of Pakistan’s socio-economic development and expressed satisfaction at its steady progress in Phase-II.

    Admiring the prime minister’s economic reform agenda, Minister Li emphasised that China regarded Pakistan as an ironclad brother and All-Weather Strategic Cooperative Partner.

    He expressed China’s firm resolve to elevate bilateral relations with Pakistan to new heights of cooperation and collaboration.

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  • 5.9 tremor felt in KP, Pindi and Islamabad – Newspaper

    5.9 tremor felt in KP, Pindi and Islamabad – Newspaper

    KARACHI: The Pakistan Meteorological Department (PMD) on Thursday night said that tremors of a 5.9-magnitude earthquake were felt in the twin cities and areas of Khyber Pakhtunkhwa, Dawn.com reported.

    The PMD said the quake originated at 9:56pm at a depth of 111 kilometres with its epicentre in the Hindu Kush region.

    It said tremors were felt in Peshawar, Mansehra, Hangu, Abbottabad, Swat, Attock, Malakand, Rawalpindi and Islamabad.

    State broadcaster PTV News said on X that the tremors “lasted for several seconds” and caused citizens to come out of their homes.

    Today’s quake comes after the PMD said on Tuesday that tremors were felt in Peshawar, Mansehra and Islamabad after another earthquake struck eastern Afghanistan.

    A PMD press release said the 5.4-magnitude earthquake had occurred at 5:30pm in southeastern Afghanistan at a depth of 22km with tremors felt all the way in Peshawar, Mansehra, Islamabad, Abbottabad and Swat.

    Meanwhile, the US Geological Survey had reported it as a 5.2-magnitude earthquake 34km northeast of Jalalabad city in Nangarhar province.

    The epicentre of the tremor was close to where a magnitude 6.0 earthquake hit Afghanistan late on Sunday night, devastating remote areas in mountainous provinces near the border with Pakistan.

    Published in Dawn, September 5th, 2025

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  • Aid flows as country reels from floods – Newspaper

    Aid flows as country reels from floods – Newspaper

    • UK announces another £1.2m for Sindh; UN allocates $600,000 from Regional Humanitarian Fund
    • Health ministry warns of cholera, typhoid, and dengue risks from contaminated water and stagnant pools
    • No immediate desert locust threat, despite ideal rain conditions: UN report

    ISLAMABAD: As severe flooding devastates the northern region and Punjab, with impending threats to Sindh, the international community, including the United Kingdom and the United Nations with their partners, has stepped up to aid the flood-stricken areas by releasing funds to expedite relief efforts and enhance disaster preparedness across Pakistan.

    The United Kingdom on Thursday announced an additional 1.2 million pounds to help the government’s coordinated response and assist communities in Sindh prepare before disaster strikes.

    According to a press release from the British High Commission, the new funding brings the UK’s total humanitarian assistance to £2.53m, providing life-saving support to over 400,000 people.

    The new funds are being deployed to non-governmental organisations in Sindh to enable early warning systems, community evacuations, pre-positioning of essential supplies and the protection of livestock.

    “Sindh is in a critical window to prepare and reduce the impact of the upcoming floods,” British High Commissioner Jane Marriott said. “For every dollar spent on prevention, up to seven dollars are saved in response. More importantly, lives are saved, and destruction is avoided.”

    This aid complements £1.33m announced on Aug 22 for early response and relief efforts in Khyber-Pakhtunkhwa, Punjab and Gilgit-Baltistan. That support includes providing dry food rations, search and rescue operations, mobile medical camps and restoring irrigation channels.

    Additionally, the UK has contributed £500,000 to the Start Ready Disaster Risk Financing system in Pakistan. The funds have been released to reach 20,000 people across Punjab, Sindh and KP to anticipate and mitigate humanitarian impacts from future flooding.

    UN aid

    The United Nations and its partners are also working closely with Pakistani authorities to assess the humanitarian impact of the floods and identify needs.

    Emergency Relief Coordinator Tom Fletcher has released $600,000 from the Regional Humanitarian Pooled Fund to support relief and recovery efforts, according to a statement released by the UN Information Centre in Islamabad.

    UN Secretary-General Antonio Guterres expressed his condolences and solidarity with Pakistan. He commended the Pakistani authorities for relocating more than one million people in Punjab, according to the statement attributed to his spokesperson, Stephane Dujarric.

    Health advisories

    Meanwhile, the Federal Ministry of Health has released advisories to combat the heightened risk of disease outbreaks.

    The ministry’s research body, the National Institutes of Health (NIH), has warned that extensive water contamination and disease-carrying vectors pose a severe threat to public safety.

    The ministry stated that floodwater has contaminated supplies, raising the risk of a surge in diseases like cholera and typhoid. Additionally, vast areas of stagnant water have created ideal breeding grounds for mosquitoes, increasing the potential for Dengue Fever, Chikungunya and Malaria.

    The advisories, available on the ministry and NIH websites, provide guidance on preventing and controlling vector-borne, food-borne, water-borne, vaccine-preventable diseases and conjunctivitis. A statement issued by the ministry urged all citizens to follow established safety protocols.

    No locust threat

    Separately, a United Nations Food and Agriculture Organisation (FAO) report released on Thursday states that Pakistan faces no immediate threat of locusts.

    The FAO’s “Desert Locust Bulletin” sta­ted that surveys in August found no locusts in key summer breeding areas, and while very small-scale breeding may still occur, “no significant developments are expected”.

    Ikram Junaidi in Islamabad also contributed to this report

    Published in Dawn, September 5th, 2025

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  • ‘Woh Humsafar Tha’ singer Quratulain Balouch survives rare bear attack in Deosai

    ‘Woh Humsafar Tha’ singer Quratulain Balouch survives rare bear attack in Deosai

    Quratulain Balouch performs on stage. —Instagram@qbalouch

    SKARDU: Pakistani singer Quratulain Balouch was injured after being attacked by a bear while camping in Deosai National Park in Gilgit-Baltistan, officials said.

    She was shifted to the Regional Hospital in Skardu, where doctors confirmed she is under treatment.

    According to hospital staff, both of Balouch’s arms were wounded in the attack, but she is out of danger.

    Pakistani-American singer-songwriter, also known as QB or the Humsafar Girl, as she became popular for her title track Woh Humsafar Tha in TV serial Humsafar, is touring Skardu to explore its legendary wild beauty.

    Spread over 3,000 square kilometres, Deosai is a stunning wonder with gently rolling hills, bubbling brooks, and a riot of wildflowers. The park is located in the western massif of the Himalayas, east of Nanga Parbat Peak.

    The word Deosai, according to reports, is a combination of two words, “Deo” (giant) and “Sai” (shadow). The plateau, at an altitude of 3,500 to 5,200 metres, is part of Conservation International’s Himalayan Biodiversity Hotspot.

    Its iconic wildlife includes the Golden Marmot, which resembles a furry squirrel, sleek red foxes, and the magnificent brown bear.

    These rarely seen animals are endangered, which is why authorities in Deosai have designated the area as a national park to enforce a strict ban on hunting.

    According to a 2023 report, bears in Deosai have remained stuck at around 75 in number, and conservationists fear shrinking habitat from human activity and inbreeding may be to blame.

    They also warn that rising tourism in the park is pushing people deeper into bear territory, increasing the chances of dangerous encounters like recent attacks.

    QB first gained attention in 2011 with her cover of Reshma’s Ankhian Nu Ren De and later performed Panchi with Jal in Coke Studio.

    QB went on to sing Kaari Kaari for the Bollywood film Pink and is known for popular Coke Studio tracks like Sammi Meri Waar, Laung Gawacha, and Thagyan.


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  • YoY: FY25 remittances soar 27% to $38.3bn

    YoY: FY25 remittances soar 27% to $38.3bn

    ISLAMABAD: Pakistan’s remittance inflows hit a historic high of USD38.3 billion in fiscal year 2025, marking a 27 percent year-on-year surge, but the cost of channeling this money through the Pakistan Remittance Initiative (PRI) has skyrocketed even faster – up 70 percent to a staggering Rs 124.14 billion compared to Rs 72.95 billion in 2024, official documents reveal.

    Compared to fiscal year 2024’s USD30.3 billion, the country saw a 27 percent year-on-year increase in remittances, largely driven by inflows from Saudi Arabia, the UAE, the UK, and the European Union (EU) countries, ranking the country as the world’s fifth-largest remittance recipient and second in South Asia.

    The State Bank of Pakistan (SBP) noted that the major reasons for the increase in cost during fiscal year 2024 and fiscal year 2025 were: (i) upward revisions in incentives provided under the Transfer to Cash Incentive Scheme (TTCIS) to arrest the declining trend observed in fiscal year 2023 that continued in the early months of fiscal year 2024, (ii) restoration of the Saudi corridor (which accounts for 25 percent of inflows) under TTCIS, (iii) substantial cumulative depreciation (around 60 percent) of PKR vs SAR, ie, the currency of rebate under TTCIS, and (iv) unprecedented increase in remittances after the changes in policy.

    July workers’ remittances rise 7.4pc YoY

    Considering the rising cost for the national exchequer, the Economic Coordination Committee (ECC) of the cabinet, on the recommendation of SBP, has recently rationalized the incentives under TTCIS.

    Remittance inflows have surged nearly fivefold since fiscal year 2009, when they stood at just USD7.8 billion to USD38.3 billion in fiscal year 2025. Over the past decade alone, flows have registered a 92 percent growth, surpassing the country’s export proceeds as the largest source of foreign exchange.

    The central bank stated that since 2009, PRI has been working towards enhancement of home remittances through formal channels in Pakistan. As a result of active engagements with financial institutions (FIs), the number of FIs on PRI network has increased from around 25 in 2009 to more than 50 in 2024. The FIs include conventional banks, Islamic banks, microfinance banks, and Exchange Companies (ECs).

    Further, the Electronic Money Institutions (EMIs) are also allowed to receive home remittances by working through the banks. The number of international entities has increased from around 45 in 2009 to around 400 at present. In fiscal year 2024 alone, around 33 new international entities joined the home remittance business with the Pakistani FIs under the PRI channel.

    A parliamentary panel was recently informed that the reward structure — previously set between 20 to 30 riyals per incremental transaction — has now been revised to a flat rate of 20 riyals across all transaction sizes. The minimum eligible transaction threshold is being raised from USD100 to USD200.

    Copyright Business Recorder, 2025

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