Category: 1. Pakistan

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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Updated On: Fri, 05 Sep 2025

09:21:22 PKT

CHINIOT (Dunya News) – Extremely high-level flooding has at Head Qadirabad and Chiniot in River Chenab on Thursday inundated dozens of surrounding villages, Dunya News reported.

At Chiniot, the water flow in the river has been recorded at 554,998 cusecs, while at Head Qadirabad, the flow exceeded 368,000 cusecs. At Head Khanki, the flow was recorded at 248,840 cusecs.

A medium-level flood has been reported at Head Trimmu, with a flow of 277,922 cusecs, while Head Marala recorded a flow of 117,369 cusecs. At Head Sadhnai on the Ravi River, water levels have decreased to 130,164 cusecs.

Medium-level flooding is also occurring at Jassar and Shahdara in the River Ravi. Jassar recorded a water flow of 78,300 cusecs, and Shahdara 108,960 cusecs.

In Uch Sharif, due to a surge in the Sutlej River, water has entered 20 more residential settlements, submerging standing crops on thousands of acres of land.

Flood destruction has also hit Khanewal, where dozens of villages are now inundated. In Pindi Bhattian, the flood wave from the Chenab River continues to cause devastation, with floodwaters entering the western part of the city and submerging multiple areas.

 

The UK has announced an additional £1.2 million in anticipatory flood response funding for Sindh, bringing its total humanitarian assistance to Pakistan this year to £2.53 million, a British High Commission press statement said on Thursday.

The funding will focus on early warning systems, community evacuations, identifying vulnerable households, pre-positioning essential supplies, livestock protection, and preparing evacuation centres, the statement added.

It follows UK’s £1.33 million package unveiled on August 22, which supported early response and relief in Khyber-Pakhtunkhwa, Punjab and Gilgit-Baltistan.

Flour prices in Peshawar have surged sharply due to supply restrictions imposed on the movement of flour from Punjab, with no signs of stabilization in the local market.

According to market sources, the price of a 20-kilogram bag of flour has reached Rs2,500, while the 80-kilogram bag, after an increase of Rs500, is now selling between Rs9,500 and Rs10,000.

On Thursday, the retail price of different flour varieties in Peshawar stood at Rs2,500 for Fine, Rs2,450 for Super Fine, and Rs2,400 for mixed quality. The price of Fine flour alone has increased by Rs400 in recent days, jumping from Rs2,100 to Rs2,500 per 20-kilogram bag.

The continuous rise in flour prices has also impacted bread weight, which has now dropped to just 80 grams per loaf. Traders and consumers alike attribute the upward trend to the ongoing restrictions on flour supply from Punjab, warning that further hikes are likely if the issue remains unresolved.

On the other hand, a high-level meeting, chaired by Khyber-Pakhtunkhwa’s Provincial Minister for Food, Zahoor Shah Toru, was held at the Commissioner’s Office in Mardan to review the availability and prices of flour in the province following Punjab’s recent ban on wheat and flour supply to K-P.

Commissioner Mardan, Nisar Ahmed, briefed the minister, stating that both the open market and government warehouses currently have sufficient stocks of wheat.

He added that the deputy commissioners of Mardan and Swabi have been directed to closely monitor the situation and take strict action against hoarders and those involved in creating artificial price hikes.

Minister Zahoor Shah Toru reassured that the provincial government is closely monitoring the situation and will ensure the protection of people’s rights. He emphasized that under Article 151 of the Constitution of Pakistan, inter-provincial movement of food commodities cannot be restricted. He further informed that Chief Minister Ali Amin Khan Gandapur, along with the Chief Secretary and senior Food Department officials, is in contact with the federal and Punjab governments on the matter.

The minister directed district administrations and the Food Department to review the situation on a daily basis and ensure that flour and bread are made available to the public at official rates across the province.

The meeting was also attended by Additional Deputy Commissioner General Mardan Eid Nawaz Sherani, ADC Relief Iqbal Hussain Khattak, and other officials from the Food Department.

The flour crisis in the twin cities has reached its peak, with wheat in the open market selling at Rs3,900 per maund, pushing the price of a 20kg flour bag up to Rs2,400 — an increase of Rs900.

However, Rawalpindi Deputy Commissioner Hasan Waqar Cheema has fixed the official price of a 20kg flour bag at Rs1,810. Rejecting this rate, the Kiryana Merchants Association announced that it would halt retail sales of flour across the division starting today (Friday).

Association President Saleem Pervaiz Butt said flour mills in Rawalpindi Division and Islamabad are now supplying 20kg flour bags at Rs2,400, while the DC has set a rate Rs600 lower. “We cannot buy expensive flour and sell it at the government’s cheap rate. If the DC supplies us flour at the official price, we are ready to sell it,” he added. The association has issued instructions to all grocery shops to immediately stop flour sales.

Meanwhile, Naanbai Association President Shafiq Qureshi stated that the price of a 79kg flour sack has jumped by a record Rs3,000.

Published on: September 5, 2025 2:11 AM

Punjab Information Minister Azma Bokhari has said that the Punjab Government has fixed new prices of flour and bread, and no increase will be tolerated. According to Information Minister Azma Bokhari, the price of a 10 kg flour bag has been fixed at Rs. 905 and the price of a 20 kg flour bag at Rs. 1810, while the price of roti has been fixed at Rs. 14.

Azma Bokhari made it clear that no one will be allowed to raise the prices of essential commodities under the pretext of floods. The government is taking full measures to provide relief to the people and to keep the prices of daily-use items under control. She said that in this regard, the Punjab Government has issued an official notification, while the notifications regarding the prices of flour and roti have also been shared with the public and the media.

Pakistan Petroleum Limited (PPL) has announced a significant oil and gas discovery at its Dhok Sultan-03 well, located in District Attock, Punjab, marking a major milestone in the country’s upstream energy sector.

According to a press release issued by the company, the well flowed 1,469 barrels per day (BPD) of oil and 2.56 million standard cubic feet per day (MMscfd) of gas at a wellhead flowing pressure (WHFP) of 1,147 psig on a 32/64″ choke. On a 48/64″ choke, the well produced 2,113 BPD of oil and 4.13 MMscfd of gas at 813 psig WHFP.

PPL termed the results “highly encouraging,” describing the find as the second deepest oil discovery in naturally fractured carbonate formations in the Potwar region. The Dhok Sultan-03 well is part of the Dhok Sultan Block, where PPL operates with a 75% working interest, alongside Government Holdings Private Limited (GHPL), which holds the remaining 25%.

The Dhok Sultan-03 well was spudded on January 18, 2025, and drilled to a total depth of 5,815 meters to test the hydrocarbon potential of the Patala and Lockhart formations.

“Testing results were highly encouraging, the well flowed 1,469 barrels per day of oil and 2.56 MMscfd of gas at Wellhead Flowing Pressure (WHFP) of 1,147 psig on a 32/64” choke, and 2,113 barrels per day of oil and 4.13 MMscfd of gas at WHFP of 813 psig on a 48/64” choke,” stated the PPL release.

PPL credited the breakthrough to “rigorous geological, geophysical and reservoir engineering data analyses” that enabled the company to overcome challenging drilling conditions by optimizing well design—resulting in reduced drilling time and cost savings.

The company stated that the Dhok Sultan-03 find is expected to make a meaningful contribution to Pakistan’s energy mix by adding domestic reserves and reducing the need for energy imports. The discovery is the second successful find in the Dhok Sultan Block.

“PPL remains committed to responsibly exploring and developing Pakistan’s natural resources, ensuring long-term value creation for the country and its people,” the statement concluded.

A magnitude 6.2 earthquake has shaken Afghanistan as the death toll from the devastating quake on Sunday rose to more than 2,200.

It struck south-eastern regions on Thursday night, according to the Helmholtz Centre for Geosciences in Germany. It was not immediately clear how much damage there was.

A 5.5 magnitude aftershock struck on Tuesday, causing panic and interrupting rescue efforts as more roads were cut off by rockfall.

Hamdullah Fitrat, a Taliban spokesperson, confirmed on Thursday that the death toll from Sunday’s magnitude 6.0 earthquake had risen to 2,205 – up from previous estimates of 1,400 and making it one of the deadliest natural disasters to hit the country in decades.

It hit the mountainous and remote eastern part of the country around midnight on Sunday, levelling entire villages where people were trapped under rubble.

Most of the casualties were in Kunar province, where many houses are built from wood and mud bricks, making them highly vulnerable to earth tremors.

Rescuers have managed to reach villages that had been completely cut off by the disaster and bodies continued to be pulled from debris on Thursday.

About 98% of the buildings in Kunar were damaged or destroyed, according to an assessment from the charity, Islamic Relief.

The rough and mountainous terrain has been hindering relief efforts. Taliban authorities have deployed helicopters and airdropped army commandos to help locate and rescue survivors. Aid workers reported walking for hours to reach villages cut off by landslides and rockfall.

Resident Muhammad Israel said the quake unleashed a landslide that buried his home, livestock and belongings in Kunar.

“All the rocks came down from the mountain,” he said. “I barely got my children out of there. The earthquake jolts are still happening. It is impossible to live there.”

He was staying at a UN medical camp in Nurgal, one of the worst-affected areas. “The situation is also bad for us here, we don’t have shelter and are living under open skies,” he added.

Rescue and relief efforts have been hampered by a lack of international aid funding and resources flowing into the country. Since the Taliban seized back power in 2021 and began imposing hardline religious laws, making it difficult for NGOs and aid groups to function, there has been a steep drop in support.

Aid agencies said they were urgently in need of staff and supplies to tend to the injured and to house tens of thousands who have been left homeless and without access to food or water. About 84,000 people have been affected so far.

The Norwegian Refugee Council said it had fewer than 450 staff in Afghanistan, whereas it had 1,100 in 2023 when the last major quake struck the country. The council has only one warehouse and no emergency stock.

“We will need to purchase items once we get the funding but this will take potentially weeks and people are in need now,” said Maisam Shafiey, a communications and advocacy adviser for the council in Afghanistan.

“We have only $100,000 [£75,000] available to support emergency response efforts. This leaves an immediate funding gap of $1.9m.”

Shamshair Khan, a doctor tending to the injured at the UN camp in Nurgal, said supplies were already running out.

“Neither these medicines are enough nor these services,” he said. “These people need more medicine and tents. They need food and clean drinking water. They need more aid. These people are in great pain.”

The earthquakes came with Afghanistan already suffering from drought and a severe economic crisis. The withdrawal of USAid funding, after cuts by the Trump administration earlier this year, resulted in the closure of many hospitals and medical clinics.

The pressures on the country have been exacerbated by the forced return of more than 2 million Afghans from neighbouring Pakistan and Iran, many of whom have nowhere to live or work.

Tremors felt in India and Pakistan

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