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HomeOpinionPak Saudi Arabia Trade - Express Urdu

Pak Saudi Arabia Trade – Express Urdu

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Pak Saudi Arabia Trade – Express Urdu

The operation of Hajj from Pakistan has been started from Thursday, in this regard, the arrangements have been completed in the Islamic brotherhood of Saudi Arabia. Until a few decades ago, pilgrims departed for Hajj by air as well as by sea under the cheapest package. used to be

Before the fall of Dhaka, people from Karachi and Chittagong also used to leave by ship for Hajj. The series was later canceled in West Pakistan, while reports are coming from Bangladesh that a huge ship carrying thousands of pilgrims will depart from the port of Chittagong, a multi-decker ship with a huge There is an auditorium with a seating capacity of 2,000 people. Certainly, all kinds of training will be given to the pilgrims in connection with Hajj during the journey itself.

In Pakistan, the expenses are increased every year to such an extent that those who have been saving money for years and prepare for it, sit with a heavy heart just hearing the expenses. There are millions of people in Pakistan who have been adding little money for many years and the process of adding money has been going on like this since the beginning. It is said that when Hajj was paid for 5 thousand rupees in the decade of 1960, every time the poor kept collecting every pie.

In the early years of the 70s, it is said that the Hajj cost 12 thousand rupees and when it reached lakhs, whenever the poor used to collect money in one way or another, but now it costs 13 lakhs and even more. If there is a need to do so, the difficulties of Hajj pilgrims have increased tremendously. Many people like to carry extra cash because they have to do a lot of shopping in Jeddah and other cities, including jewelry.

The markets located in different cities of Saudi Arabia have mostly products from Asian and other countries. Surprisingly, Pakistani products are very rare. We understand that we have a big name in the textile world, but the authorities of Pakistan, the traders and industrialists here have not done much in this regard, due to which the products of other countries are abundant compared to Pakistan.

Although the history of trade between Pakistan and Saudi Arabia is very old, after the establishment of Pakistan, trade is being carried out by sea and air, but the value and share of the goods exported by Pakistan are also very low.

In 2023, Pakistan exported $563.2 million worth of goods to Saudi Arabia, which accounted for just 2.03 percent of total exports, while UAE’s share was more than double that of 5.02 percent. While our import value from Saudi Arabia is 4 billion 302.690 thousand dollars and thus the share of Saudi Arabia in the total import value is 7.79%.

Now our traders, exporters and economic authorities need to focus on how to increase mutual trade and especially Pakistani exports to Saudi Arabia, along with investments.

Recently, the Prime Minister of Pakistan Shehbaz Sharif hosted a dinner in honor of the Saudi delegation visiting Pakistan. The visit of the Saudi business delegation is being considered a success. Certainly, this visit of the business delegation of the Islamic Brotherhood country is a matter of pride for Pakistan, while Saudi Crown Prince Mohammed bin Salman is expected to visit this month. Along with this, the hopes of getting a loan from the IMF from Saudi investment have brightened. The Ministry of Finance says that the US and other friendly countries are helping Pakistan in getting the IMF program.

In my opinion, Saudi investment before the IMF negotiations is a link in this chain and the world can also be convinced that Pakistan is an important country for investment, if before the negotiations Saudi Crown Prince Mohammed bin Salman If the visit to Pakistan is completed, the IMF will receive a very positive message.

The real point here is that IMF’s strict conditions and many other negatives as well as delaying tactics and expressions of deep discontent and many other issues are falling like a bomb on Pakistan’s economy. The adverse effects are reflected on the rupee as the rupee depreciates. There are many other international institutions that face difficulties in taking loans from them. Electricity, gas bombs are dropped on the people.

Saudi Arabia’s investment in Pakistan will result in stabilization of Pakistan’s economy. Apart from this, Pakistan needs to discuss economic issues with other Arab countries, UAE and Kuwait. There is a need to ease visa requirements for Pakistanis in these two countries, especially Kuwait.

In this regard, there was no formal preparation of negotiations by any government. It will also make it easier for Pakistan to settle the budget matters, as it has to consider many restrictions from the IMF in relation to budgeting. Although it is true that our country, our budget, our will. But in Pakistan, by working hard on this matter for the last several decades, we have reversed the matter.

Now economic freedom exists with various conditions and restrictions which cannot be denied, because our weak economic policies and excessive spending, corruption and other things have left the economy suffering from endless problems. The government says it will soon get rid of unnecessary and wasteful expenditure. The government should show seriousness in this regard.

Since May 2022, there has been a lot of talk that the country will be cleansed of all unnecessary expenses. But despite this, at present, a class which is called elite and holds many responsible positions, if the privileges provided to all of them are halved, then we will save half of our expenses. In such a case, the budget But any unnecessary burden will be relieved.

Pak Saudi Arabia Trade – Express Urdu

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