Caretaker finance minister stated that under this scheme, remittances above $100 will be received here without any fee.
Islamabad : The caretaker government has announced a new scheme for overseas Pakistanis sending remittances through legal banking channels.
According to details, caretaker Finance Minister Dr. Shamshad Akhtar said in a briefing that government has allocated Rs80 billion to promote the scheme. And in this regard, 20 billion rupees have been transferred to the State Bank of Pakistan (SBP).
Caretaker finance minister stated that under this scheme, remittances above $100 will be received here without any fee.
According to the scheme, remittance senders will be given points under which they will be able to avail services and goods from various government institutions at discounted rates.
Dr. Shamshad Akhtar added that government of Pakistan will also provide incentives for exchange companies under this scheme. The incentives will be given in lieu of marketing by financial institutions for sending remittances through legal channels.
The Caretaker Finance Minister said a lottery will be held under the scheme and cash prizes will also be given to those who send remittances in excess of legal means.