PM stresses have to incentivise abroad Pakistanis, give them ‘VIP remedy’

Prime Minister Imran Khan addressing the launching ceremony of the Sohni Dharti Remittance Programme in Islamabad on November 25, 2021. — PID
Prime Minister Imran Khan addressing the launching ceremony of the Sohni Dharti Remittance Programme in Islamabad on November 25, 2021. — PID

ISLAMABAD: Prime Minister Imran Khan on Thursday referred to as for incentivising abroad Pakistanis and giving them a “VIP treatment” for the remittances they ship to their homeland. 

The premier was addressing the launching ceremony of the Sohni Dharti Remittance Programme (SDRP), which can award factors to abroad Pakistanis for sending remittances by the authorized channels, Radio Pakistan reported.

The prime minister stated 9 million abroad Pakistanis had been “immensely contributing to the country’s economy”.

PM Imran Khan stated the federal government appreciated their function in serving to to bridge the hole between exports and imports — as remittances despatched by them barely offset the widening present account deficit.

The authorities is set to increase all potential facilitation to abroad Pakistanis to encourage them to ship their cash by banking channels, the prime minister stated.

Further, the premier stated abroad Pakistanis might now purchase homes and put money into actual property by the Roshan Digital initiative. He stated the federal government was engaged on a plan to present them concession in taxes as effectively.

For his half, Adviser to the Prime Minister on Finance Shaukat Tarin stated the programme was a “thanksgiving” to abroad Pakistanis.

The adviser stated earlier banks had been rewarded for attracting remittances, however now, for the primary time, abroad Pakistanis will profit from it by scoring factors within the app.

“The gap between our exports and imports is bridged by our Pakistanis living abroad,” the adviser stated.

Meanwhile, Governor State Bank Reza Baqir stated all home remittances despatched from wherever on this planet by authorized channels are eligible for inclusion within the SDRP.

Besides, funds acquired in Roshan Digital Accounts that are consumed regionally by conversion, and thus develop into non-repatriable, additionally qualify for inclusion in this system, he stated.

The governor termed the launch of SDRP one other step in the direction of digitalisation and monetary inclusion that might play a major function within the digital onboarding of abroad Pakistanis and their beneficiaries in Pakistan.

The cell utility of SDRP is offered on Android and iOS platforms.

Under the SDRP, if a person sends remittance to the restrict of $10,000 or equal in a single fiscal yr, then they are going to be awarded 1% as a reward and allotted a inexperienced card class, a press release from the Finance Ministry stated.

Similarly, for remittances despatched by a person between $10,000 and $30,000 or equal, the remitter could be given 1.25% as a reward and labeled into the gold card class, the assertion stated.

Lastly, for remittances of greater than $30,000 or equal, they are going to be awarded 1.5% as a reward and allotted a platinum card class, the assertion stated.

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