KARACHI: The State Bank of Pakistan (SBP) has launched the Pasban Remittance Rewards program to encourage overseas Pakistanis to send foreign remittances through formal banking channels, according to SBP Governor Jameel Ahmad.
The scheme is aimed at incentivizing and rewarding overseas Pakistanis for using legal and formal channels to send remittances, supporting the country’s foreign exchange inflows and strengthening its reserves.
The Pasban Remittance Rewards program replaces the Sohni Dharti Remittance Program (SDRP) and the Telegraphic Transfer (TT) Charges incentive scheme, both of which were formally discontinued by the SBP on July 1, 2026.
The previous schemes were discontinued amid conditions and scrutiny under the International Monetary Fund (IMF) program. However, users can still redeem their legacy Sohni Dharti points until June 30, 2027, while no new points are being issued under the previous program.
Governor Jameel Ahmad said the new framework is focused on maintaining incentives for overseas Pakistanis while aligning the country’s remittance mechanism with its broader macroeconomic framework.
He said Pakistan’s goods import bill for the current year is being managed at around $68 billion to $70 billion, compared with $72 billion in 2022, highlighting efforts to manage the country’s external position.
The governor further said that Pakistan has achieved a foreign exchange reserve position sufficient to cover three months of the country’s import bill, a key benchmark for external stability.
He emphasized that increasing foreign exchange inflows remains a priority, with the SBP focused on facilitating exporters to support the country’s economic recovery.
Governor Jameel Ahmad specifically highlighted the textile sector, stressing the need to address exporters’ issues and facilitate their operations to maximize export revenues.
