Murad Saeed also outlines benefits of Foreign Remittance Initiative. PHOTO: FILE
Addressing a World Post Day ceremony here at the Postal Staff College, he said that the FRI, launched in collaboration with the National Bank of Pakistan, would facilitate Pakistani expatriates in sending remittances to the country through lawful means.
"Minimal fees will be charged on money orders sent or received via this initiative, which means that the family of a hard-working labourer employed in the United Arab Emirates (UAE) or the Kingdom of Saudi Arabia (KSA) would receive the sent amount in full without any deductions", Murad said.
He also said Pakistan Post has had to work hard to bridge the trust deficit among the people about the department’s performance, adding, however, that more people were now opting for the Pakistan Post’s courier and money order services which was proof of the people's trust in the state-run service.
Police facilitation centre sets up special counter for expats in Islamabad
He said previous governments had completely ignored an entity capable of generating revenue for the state along with providing immense employment opportunities for youth.
"We have a large network of post offices across the country and 230 stations are currently being operated under the initiative. We will gradually expand the area served by FRI services", he said.
Murad Saeed further said that the payment solutions and logistics policy for Pakistan Post was being improvised, a process which would be completed in the next two months.
"With the help of all the innovative steps that we are taking, Pakistan Post will be the biggest contributor to the economy in the next three years", the minister said.
He also said the FRI was aimed at encouraging overseas Pakistanis to remit their hard-earned money through legal means which would boost the country's foreign exchange reserves.
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