From remittances to results: Saudi Arabia’s new economic play in Pakistan

https://arab.news/gjv8r

After decades of financial lifelines, Saudi Arabia is now backing Pakistan’s technology, minerals and industrial sectors signaling a historic pivot from support to partnership.

For decades, Pakistan’s economic relationship with Saudi Arabia has been defined by stability rather than strategy. Millions of Pakistani workers in the Kingdom send home over $9 billion annually-- nearly a quarter of the country’s total remittances — while grants, deposits, and deferred oil payments have repeatedly helped Islamabad navigate balance-of-payments crises.

Religious tourism further cements people-to-people ties, with millions traveling for Hajj and Umrah each year. Yet these inflows, while vital, have sustained consumption rather than transformed the economy. I believe this signals a pivotal moment: Saudi Arabia is moving beyond episodic support, and Pakistan must seize the opportunity to transform its productive economy. 

If Pakistan fails to provide regulatory certainty and technical capacity, decades of opportunity could be lost. - Mehreen Durrani

If Pakistan fails to provide regulatory certainty and technical capacity, decades of opportunity could be........

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