SBP launches ‘Diamond’ category of Sohni Dharti Remittance Program

KARACHI: In a bid to further encourage remittances through formal channels, the State Bank of Pakistan, Friday, launched a new ‘Diamond’ category of the Sohni Dharti Remittance Program (SDRP) that offers enhanced points and additional benefits to remitters.

The category will be effective from September 22, 2023, in addition to existing three- Green, Gold and Platinum- categories of SDRP that is a point-based loyalty program in which remitters accumulate reward points by sending remittances through formal channels of SBP regulated entities, said a statement issued here.

Former Finance Minister Ishaq Dar in his budget speech for FY24 had announced the addition of Diamond category with enhanced reward points and provision of other benefits like arms license of non-prohibited bore, preferential treatment at Pakistan embassies and airports and gratis passport to the Diamond Category holders.

Reward points can be redeemed by remitter and their beneficiary for availing free of cost products and services including Emigrant Registration fee at Bureau of Emigration and Overseas Employment; duty payment of imported mobile sets and vehicles to Federal Board of Revenue; School fee by Overseas Pakistanis Foundation (OPF); and renewal fee of passports at Directorate General of Immigration and Passports, said the statement.

Moreover, benefits on redeeming reward points can also be availed on International air tickets and extra luggage charges by Pakistan International Airlines; life insurance or takaful premium payment at State Life Insurance Corporation; and purchases made at Utility Stores Corporation of Pakistan.

These reward points appear on the app in the form of a virtual card that updates automatically with reward points after each remittance.

Additional reward points redemption avenues like 1BILL and PayPak card are also being offered in SDRP. The addition of these new avenues will provide benefits to remitters and their beneficiaries to pay bills and use PayPak Card at merchants and Pakistani e-commerce stores.