ISLAMABAD – The Pakistani government has signed an agreement with a leading contracting company of Saudi Arabia to export manpower to the kingdom.
The agreement has been signed by the Pakistan Overseas Employment Corporation (POEC) and Saudi Arabia's leading contracting company NESMA & Partners.
An announcement in this regard was made by the Ministry of Overseas Pakistanis on Thursday.
The announcement came after a meeting between Jawad Sohrab Malik, special assistant to the Pakistan prime minister, and NESMA & Partners CEO Samer Essam Abdul Samad.
The “landmark” agreement between the POEC and NESMA & Partners will allow the export of skilled Pakistani labour to Saudi Arabia, specifically for ongoing and upcoming projects of NESMA, which specializes in construction.
Saudi Arabia is home to the largest number of Pakistani expats, over two million, and is the biggest contributor to remittance inflows into Pakistan.
“The agreement marks a pivotal collaboration between Pakistan and Saudi Arabia, paving the way for the export of a substantial Pakistani workforce to contribute to Saudi Arabia’s ambitious infrastructure and development goals,” the Ministry of Overseas Pakistanis said in a statement.
“NESMA & Partners, as the leading construction company in Saudi Arabia, holds responsibility for numerous mega-projects within the kingdom. This agreement will provide Pakistani workers with the opportunity to showcase their expertise and contribute to the success of these critical infrastructure projects.”
The development came during Malik’s first visit to Saudi Arabia with an aim to foster collaboration and exploring employment opportunities for Pakistani workforce in the Kingdom.
During his meeting with the NESMA CEO, the Pakistan PM’s aide expressed his “sincere appreciation and gratitude” for the Saudi firm’s commitment to hiring Pakistani workers, according to the statement.
Pakistani rupee saw marginal improvement against US dollar as it appreciated in the open bank market.
On Thursday, the US dollar moved up and was being quoted at 285.3 for buying and 288.15 for selling.
Euro moves down to 311 for buying and 314 for selling. British Pound rate stands at 358.5 for buying, and 361.5 for selling.
UAE Dirham AED stands at 78 whereas the Saudi Riyal rate stands at 76.20.
|UK Pound Sterling||GBP||358.5||361.5|
|Hong Kong Dollar||HKD||36.63||36.98|
|New Zealand Dollar||NZD||173.44||175.44|
KARACHI – The gold price continues to climb up in the local market in line of upward trend in international market.
On Thursday, the single tola of 24 Karat gold was available at Rs218,600, and the price for 10-gram gold reached Rs187,420.
Meanwhile, the 22 Karat Gold price stands at Rs200,380, 21 karat rate for each tola is Rs191,275 and 18k gold rate hoveres around Rs163,950.
In international market, the price of precious metal hovers around $2,045 per ounce.
|Lahore||PKR 218,600||PKR 2,675|
|Karachi||PKR 218,600||PKR 2,675|
|Islamabad||PKR 218,600||PKR 2,675|
|Peshawar||PKR 218,600||PKR 2,675|
|Quetta||PKR 218,600||PKR 2,675|
|Sialkot||PKR 218,600||PKR 2,675|
|Attock||PKR 218,600||PKR 2,675|
|Gujranwala||PKR 218,600||PKR 2,675|
|Jehlum||PKR 218,600||PKR 2,675|
|Multan||PKR 218,600||PKR 2,675|
|Bahawalpur||PKR 218,600||PKR 2,675|
|Gujrat||PKR 218,600||PKR 2,675|
|Nawabshah||PKR 218,600||PKR 2,675|
|Chakwal||PKR 218,600||PKR 2,675|
|Hyderabad||PKR 218,600||PKR 2,675|
|Nowshehra||PKR 218,600||PKR 2,675|
|Sargodha||PKR 218,600||PKR 2,675|
|Faisalabad||PKR 218,600||PKR 2,675|
|Mirpur||PKR 218,600||PKR 2,675|