Tuesday, February 18, 2020
Incentives for Pakistani Expatriates to boost the Foreign Remittances to Pakistan
A Pakistani national can now send remittance of 750 Saudi Riyals or more in one transaction without paying any fee of 16 SR to the remittance centers, As the Pakistan government is going to pay that fee against one foreign transaction of at least 350 SR.
The government to clear all the dues within 6 months instead of a year, More over Pakistan to allocate budget for expats to promote use of legal channels for remittance. Last year Pakistani citizens remitted 22 billion dollars from abroad, now government is planning to make it 24 billion dollars for the year 2020. See Also : Saudi Labor law on salary deductions or delays
- In order to increase the flow of remittances from Pakistani expatriates the country to provide incentives to them for using legal channels to send money instead of Hawala or Hundi.
- The Ministry of Overseas Pakistanis and Human Resource Development agreed to facilitate Pakistani expatriates in opening new bank accounts, A card will be given to the remitter from banks which will help them to benefit from various incentives for sending money to the home country. Read : Employer's responsibility, Contract Terms as per Saudi Labor Law
- On every transaction, the remitter will earn some points and those points will help them for incentives, which includes concession on air tickets, more carrying luggage in flights. Families with remitter card will be given some packages on purchasing edible items from the utility stores.
