Imran wants to incentivise expats for remittances

By News Desk

ISLAMABAD: Prime Minister Imran Khan on Friday said the government was committed to providing facilities to overseas Pakistanis and their families for their “immense contribution” to Pakistan as he asked his ministers to consider extending more incentives to expatriates to attract more remittances.

Returning to his frequent praise of overseas Pakistanis as “invaluable assets” for their remittances—which have helped kept the economy afloat during the coronavirus pandemic—Khan said remittances were playing a key role in stabilising the country’s economy.

Chairing a meeting on the increase seen in remittances, the Prime Minister stressed the need for steps to provide more incentives to Pakistanis living abroad. He directed his team to devise a comprehensive strategy regarding foreign exchange and other economic needs in view of the “stability of economic growth” and asked ministries to set appropriate targets.

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

In its briefing, the State Bank of Pakistan said the government’s policy of providing incentives to Pakistanis abroad in terms of remittances was showing positive results. It said Roshan Digital Accounts have so far received $1.56 billion in just 10 months.

The gathering was also informed that a “National Remittance Loyalty Programme” would be launched soon. Under the programme, a mobile app will be introduced for Pakistanis abroad aside from the provision of financial incentives.

The programme will be launched in collaboration with Pakistan International Airlines, Federal Board of Revenue, National Database and Registration Authority, State Life Corporation of Pakistan, Overseas Pakistanis Foundation, Benevolent and Old Age Employees Fund and other government agencies. The overseas Pakistanis associated with this programme will receive benefits from these institutions.

PM’s Adviser on Commerce Abdul 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 said every effort was being made to facilitate the foreign investors and ensure ease of doing business. The meeting was attended by the finance minister, the Minister for Economic Affairs, Adviser on Commerce, and the special assistants for national security, revenue and other senior officials.