Are Pakistani Leaders Slaves of Arab Royals?
Are Pakistani leaders slaves of Arab Royals? Or simply doing what is in Pakistan's best interest?
Why did Imran Khan not attend the Kuala Lumpur Islamic Summit that was organized by Malaysian Prime Minister Mahathir Mohammad and attended by Turkish President Erdogan and Iranian President Hasan Rouhani? Why did he yield to Saudi pressure to skip it?
What are Pakistan's key economic and security interests in Gulf Cooperation Countries (GCC)? Is labor Pakistan's biggest export earning over $20 billion a year? What is the biggest export market for Pakistan's labor? What would happen if Pakistan joined Malaysia and Turkey in creating a new Muslim bloc competing with the Arab-led Organization of Islamic Countries (OIC)? Will OIC try to live up to Pakistan's expectation of a tougher stance against India's Modi vis a vis Indian Occupied Kashmir and Indian Muslims?
Who makes Pakistan's foreign and security policies? How influential is Pakistani military in making these policies? Is Imran Khan free to pursue whatever policies he personally prefers? Would any other Prime Minister have pursued a different policy with GCC nations?
ALKS host Faraz Darvesh discusses these questions with Sabahat Ashraf (ifaqeer) and Riaz Haq (www.riazhaq.com).
https://youtu.be/ylEor2XPblQ
Related Links:
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South Asia Investor Review
Soleimani Was the Hardest of the Hardliner
Confessions of an Economic Hitman
Putin Challenges American Exceptionalism
Remittances to Pakistan Up 21X Since Year 2000
Modi's Kashmir Blunder
Godfather Metaphor for Uncle Sam
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Indian RAW Agent Kulbhushan Jhadav Used Chabahar
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Riaz Haq's YouTube Channel
PakAlumni Social Network
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| Prime Minister Imran Khan Driving Prince Mohammad Bin Salman in Islamabad |
Why did Imran Khan not attend the Kuala Lumpur Islamic Summit that was organized by Malaysian Prime Minister Mahathir Mohammad and attended by Turkish President Erdogan and Iranian President Hasan Rouhani? Why did he yield to Saudi pressure to skip it?
What are Pakistan's key economic and security interests in Gulf Cooperation Countries (GCC)? Is labor Pakistan's biggest export earning over $20 billion a year? What is the biggest export market for Pakistan's labor? What would happen if Pakistan joined Malaysia and Turkey in creating a new Muslim bloc competing with the Arab-led Organization of Islamic Countries (OIC)? Will OIC try to live up to Pakistan's expectation of a tougher stance against India's Modi vis a vis Indian Occupied Kashmir and Indian Muslims?
Who makes Pakistan's foreign and security policies? How influential is Pakistani military in making these policies? Is Imran Khan free to pursue whatever policies he personally prefers? Would any other Prime Minister have pursued a different policy with GCC nations?
ALKS host Faraz Darvesh discusses these questions with Sabahat Ashraf (ifaqeer) and Riaz Haq (www.riazhaq.com).
https://youtu.be/ylEor2XPblQ
Related Links:
Haq's Musings
South Asia Investor Review
Soleimani Was the Hardest of the Hardliner
Confessions of an Economic Hitman
Putin Challenges American Exceptionalism
Remittances to Pakistan Up 21X Since Year 2000
Modi's Kashmir Blunder
Godfather Metaphor for Uncle Sam
Seeing Bin Laden's Death in Wider Perspective
Destructive Power of Drone Swarm on Saudi Oil Installation
US Dominates List of World's Top Universities
Indian RAW Agent Kulbhushan Jhadav Used Chabahar
Iran-Saudi Conflict
Pakistan's Nuclear Program
Iran Nuclear Deal
1971 India-Pakistan War
Chabahar vs Gwadar Ports
Did America Contribute to the Rise of ISIS?
Riaz Haq's YouTube Channel
PakAlumni Social Network
Comments
During January 2020, remittances received from Saudi Arabia fell 8.4 per cent to $433.4 million while Pakistani nationals in the UAE remitted $395.5 million, a decline of 7.5 per cent.
Remittances from the other major markets such as the USA and UK fell 6.3 per cent and 7.9 per cent to $335.1 million and $299.1 million, respectively.
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Moreover, the State Bank of Pakistan also hiked payment limits against freelance services for an individual in computer and information systems and other freelance services from $5,000 per month to $25,000 in order to attract more foreign exchange.
"The enhancement in limit will facilitate freelancers to route greater value of funds through a more economical and efficient channel of home remittances and help in receiving foreign exchange flows through formal banking channels in the country. This would also enable freelancers to expand their business/ operations and engage new freelancers to join the workforce," the central bank said in its statement.
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Moody's: Rising workers’ #remittances bode well for #Pakistan #economy. In 2012-19 period, remittances rose at a compounded annual rate of nearly 9%, with majority of inflows coming from #GCC (54%), #US (16pc), #UK (16pc) and #Malaysia (7%). https://profit.pakistantoday.com.pk/2020/02/17/increase-in-workers-remittances-bodes-well-for-pakistan-moodys/ via @Profitpk
An increase in worker’s remittances is positive for Pakistani banks and borrowers, as it supports deposit flows and strengthens household finances, according to the credit rating agency Moody’s.
In a report published on Monday, the agency said that the high levels of remittances have contributed to reported double-digit growth in residents’ household deposits.
Earlier on 12 February, the State Bank of Pakistan (SBP) released updated monthly data on workers’ remittances, which showed a 4pc increase in the monthly average for the fiscal year 2020, compared to the previous corresponding year.
According to SBP data, workers’ remittances received during the first seven months of FY20 amounted to a cumulative total of $13.3 billion.
The agency noted that the growth [in remittances] has provided a stable and low-cost deposit base to Pakistani banks, which in turn has enhanced banks’ profitability and increased their liquidity buffers.
The report further stated that the growth might help mitigate the effect of government deposit outflows. The SBP is considering introducing a Treasury Single Account, which will require government deposits to be placed with the SBP instead.
Despite Pakistan’s high-interest rates (unchanged since July 2019 at 13.25pc), the remittances have helped negate any associated challenges. That’s because households are better positioned to meet their financial obligations with banks.
Non-performing loans have also been maintained at historically low levels; consumer NPLs accounted for 5pc of total consumer loans as of the end of September 2019, while the system average NPL ratio was 8.8pc.
According to the World Bank, Pakistan was the seventh-largest recipient of remittances globally in 2018, with remittances inflows reaching $21 billion or 6.8pc of the country’s GDP.
It is no news that all is not well in the Arab world. In the latest, it has been reported that Pakistan has offered to mediate between Saudi Arabia and Iran, in order to avoid strained relationships with both countries.
The spread of fake news, however, is a ready-made recipe for straining bilateral relationships.
Tanveer Arain, journalist and political analyst with some of the leading publications in Pakistan, including The Dawn, took to Twitter to draw attention to a letter, allegedly written by Saudi Arabian Defence Minister Muhammad Bin Suleiman.
The letter allegedly quotes the defence minister calling Pakistan a “slave country” and that “it will remain Saudi Arabia’s slave” country.
Tanveer’s tweet was retweeted 679 times, and was liked 605 times by Twitter users. His tweet also prompted Postcard.news to swiftly pick up story.
The story was shared 33,000 times on Facebook, from the Postcard portal. The story elaborately describes how Saudi considers other Muslim countries to be of ‘converted’ status. The story reads:
Muhammad Bin Suleiman believes that Pakistanis are the slaves of the Arabs. This statement proves that Saudis looks at every other Muslim country with the ‘converted-Muslim’ perspective. Muslims from India, Pakistan, and Bangladesh are called ‘Hindu-Muslims’ in Saudi.
The story was also picked by Defence Tube, a YouTube channel which has 7,800-odd subscribers and by a Facebook page on Indian Defence, where it was widely shared.
What The Letter Actually Says
Senior journalist Abbas Nasir, who was a former editor of The Dawn and has also been associated with BBC, was quick to raise that a Tehran dateline was dodgy for a story related to Saudi.
Mustaqbil Pakistan party leader Nadeem M Qureshi also responded to Taveer’s tweet about the letter being “fake news”.