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Pakistan Islamabad

For Home Remittances, Scheme Introduced For Overseas Pakistanis

For Home Remittances, Scheme Introduced For Overseas Pakistanis

Islamabad – In a bid to channel remittances from overseas Pakistanis, Finance Minister Dr. Shamshad Akhtar has introduced a Home Remittance Incentives Scheme with a budget of 80 billion rupees.

During a media briefing in Islamabad, Dr. Akhtar disclosed that twenty billion rupees of the allocated budget had been immediately disbursed for this initiative.

Read more : Remittances increases first time in 7 months to 27.4% in March

The scheme entails that the government will cover all fees associated with telegraphic transfers of funds exceeding 100 dollars made by overseas Pakistanis, allowing remitters to send money free of charge.

Dr. Shamshad Akhtar also noted that the government will pay twenty Saudi Riyals to participating banks as compensation for offering this service to remitters.

Within the framework of the scheme, called Sohni Dharti, remitters can accumulate points that can be redeemed for additional benefits.

The government also plans to incentivize marketing strategies for home remittances and has introduced lucky draws for remitters who utilize legal channels to send their money back home.

Emphasizing the support of banking channels for home remittances, the Minister encouraged overseas Pakistanis to take advantage of this scheme by utilizing legal means to send money to their loved ones.