ISLAMABAD: Finance Minister Dr Shamshad Akhtar has announced the Home Remittance Incentives Scheme worth Rs80 billion to streamline remittances from Overseas Pakistanis.
Addressing the media on Friday, the finance minister said twenty out of eighty billion rupees have been released immediately for this purpose.
Giving details of this scheme, the finance minister said the government will cover all the charges to be incurred on telegraphic transfers of funds worth 100 dollars or above by overseas Pakistanis. She said this will enable remitters to send money free of cost.
The minister further said that the government will pay 20 Saudi Riyals to participatory banks for providing this facility to the remitters.
Under another category of the scheme named ‘Sohni Dharti’, remitters can accumulate their points to redeem them for getting extra benefits.
She said the government will also incentivize the marketing of home remittances. She said the scheme has also designed lucky draws for the remitters who will utilize legal channels to send their money at home.
Reassuring the support of banking channels for home remittances, the minister urged overseas Pakistanis to benefit from this scheme by utilizing legal channels of sending money to their loved ones.