Pakistan's government targets 800,000 overseas jobs in 2026: Minister

Minister for Overseas Pakistanis and Human Resource Development Chaudhry Salik Hussain has said the government aims to provide overseas employment opportunities to 800,000 individuals this year, compared to 740,00 manpower export last year.

Meanwhile, the State Bank of Pakistan (SBP) has allowed exchange companies to use the Raast payment system to receive remittances instantly in a bid to facilitate overseas Pakistanis.

The exchange companies are the third-largest component of foreign exchange inflows to Pakistan, accounting for up to $4.5 billion annually.

Citing a significant increase in demand for Pakistani labour in GCC countries and other regions, Minister Salik Hussain said Pakistan was launching soft-skills training programmes in collaboration with Korea and Japan.

He also announced that the minimum age for women seeking overseas employment had been reduced from 35 to 25 years.

A Pakistani worker employed in Korea is currently remitting an average of $1,800 per month to Pakistan, he said while speaking at a meeting with members of the Korangi Association of Trade and Industry (Kati).

The minister said the government was undertaking comprehensive reforms to address issues faced by overseas Pakistanis, promote skills development and create better employment opportunities.

In the meantime, a SBP circular said that the central bank has now allowed exchange companies (ECs) to utilise Raast, a state-of-the-art payment system launched by the SBP in 2021, to facilitate remitters and beneficiaries of home remittances.

"Through this enablement, the beneficiaries receiving remittances through ECs can receive their funds in their accounts and wallets maintained with banks, MFBs, or EMIs, in a safe and efficient manner," said the circular.

It said that this facilitation (Raast) is a step forward in achieving the overall national objective of a cashless economy.

The circular said that the digital enablement of exchange companies and the building of an innovative and inclusive digital financial services ecosystem are key objectives of the State Bank under its Strategic Plan 2023-2028.

"To achieve this objective, SBP continues to strengthen digital payments infrastructure, promote innovation and redesign regulatory frameworks to facilitate cross-border transfers using secure, interoperable and customer-centric solutions," said the circular.

"This facilitation is a step forward in achieving the overall national objective of a cashless economy," it added.