ISLAMABAD: In a bid to boost foreign inflows and encourage the use of legal banking channels, the government of Pakistan has launched a duty credit allowance scheme for overseas Pakistanis who send remittances through official means. This initiative aims to reward remitters by providing duty concessions on goods they import into the country.
Duty Credits Through PRI Cards
The scheme is available to individuals registered under the Pakistan Remittance Initiative (PRI). Depending on the total amount remitted in US dollars (or equivalent foreign currency), PRI cardholders receive duty credit allowances that can be applied against customs duties on imported items.
For instance, a remittance of $50,000 or more qualifies platinum cardholders for a maximum duty credit of Rs200,000. This credit can significantly reduce the cost of bringing personal goods into Pakistan.
Card Categories and Allowances
The government has set up a tiered benefit structure based on remittance amounts:
Silver Card: Rs20,000 credit for remitting $2,500 or more
Silver Plus Card: Rs40,000 credit for $5,000 or more
Golden Card: Rs60,000 credit for $10,000 or more
Golden Plus Card: Rs100,000 credit for $25,000 or more
Platinum Card: Rs200,000 credit for $50,000 or more
Promoting Legal Channels and Economic Growth
This incentive program supports Pakistan’s larger goal of increasing foreign exchange reserves and reducing reliance on informal remittance systems like hundi and hawala. By offering tangible financial benefits, the government hopes to strengthen ties with overseas Pakistanis while promoting economic stability at home.
Overseas Pakistanis are encouraged to check their eligibility and apply for PRI cards to take advantage of the scheme and support the country’s formal economy.
