Pakistan to Launch Remittance Loyalty Program For Overseas Nationals

Prime Minister Imran Khan announced on Friday his government was planning to launch the National Remittance Loyalty Program to reward and facilitate Pakistani nationals working abroad, reported the Associated Press of Pakistan.

Khan was presiding over a meeting to review the steady growth of remittances in recent years and devise new strategies to further incentivize the process by providing greater facilities to overseas Pakistanis and their families in recognition to their services to the country.

“The State Bank of Pakistan informed the meeting that the government’s policy of providing attractive incentives to Pakistanis abroad in terms of remittances was showing positive results,” the APP reported.

The prime minister described the Pakistani workers abroad as the country’s “invaluable asset,” adding that their remittances had played a key role in stabilizing the national economy.

The meeting also focused on the contours of the National Remittance Loyalty Program which would be implemented in collaboration with various state institutions, including the Pakistan International Airlines, Federal Board of Revenue, National Database Registration Authority, State Life Corporation of Pakistan and Overseas Pakistanis Foundation along with other government agencies.

The overseas Pakistanis would get an app under the program and receive multiple benefits from these state-owned entities.

According to Pakistan’s central bank, Pakistani workers’ remittances increased to $26.7 billion during July-May FY21, registering a 29.4 percent increase when compared to the corresponding period of FY20.

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