Govt plans more incentives to expats to boost remittances

National Remittance Loyalty Programme will be launched soon to facilitate Pakistani community abroad

ISLAMABAD:

Prime Minister Imran Khan said on Friday the government was committed to providing facilities and incentives to the overseas Pakistanis and their families, for their immense contribution to the development of Pakistan.

Chairing a meeting on the increase witnessed in remittances, Imran termed the overseas Pakistanis an invaluable asset of the country. He said the remittances sent by the expats played a key role in stabilising the national economy.

The prime minister directed for devising a comprehensive strategy regarding the foreign exchange and other economic needs in view of stability of economic growth and asked the relevant ministries to set targets in this regard.

The meeting discussed the incentives given by the government to the overseas Pakistanis, success of Roshan Digital Account (RDA), increase in domestic exports, especially from the information technology sector, promotion of foreign investment and bilateral agreements concluded with various countries.

The State Bank of Pakistan (SBP) informed the meeting that the government’s policy of providing attractive incentives to the Pakistanis abroad in terms of remittances was showing positive results. The meeting was informed that the RDA had so far received $1.561 billion in just 10 months.

It was highlighted that the remittances had been steadily increasing since the financial year 2018, despite the coronavirus pandemic, which reflected the confidence of the overseas Pakistanis in the policies of Prime Minister Imran Khan.

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The meeting was informed that the ‘National Remittance Loyalty Programme’ would be launched soon to facilitate Pakistani community abroad. Under this programme, a mobile application will be introduced and more remittances will be extended to Pakistanis abroad besides provision of financial incentives.

The programme will be launched in collaboration with Pakistan International Airlines (PIA), Federal Bureau of Revenue (FBR), National Database and Registration Authority (NADRA), State Life Corporation of Pakistan (SLIC), Overseas Pakistanis Foundation (OPF), Benevolent and Old Age Employees (EOBI) Fund and other agencies. The overseas Pakistanis associated with this programme will receive benefits from these institutions.

The meeting was updated on the achievements related to the RDA – the Roshan ‘Apni Car’ scheme and the Roshan Samaji Khidmat. Also, the ‘Roshan Apna Ghar’ is on the cards to provide houses on soft loan.

Adviser to Prime Minister on Commerce Razak Dawood gave a detailed briefing on the possible growth in exports in various sectors, especially in harnessing the country’s potential in the information technology sector. The Board of Investment (BoI) informed the meeting that every effort was being made to facilitate foreign investors and ensure ease of doing business.

Meanwhile, Sindh Governor Imran Ismail called on the prime minister on Friday and discussed the progress on the ongoing development projects being carried out by the federal government in the province. The strategy for the future reorganization of the Pakistan Tehreek-e-Insaf also came under discussion.