KARACHI: Federal Finance Minister Ishaq Dar, while addressing an award ceremony at Karachi Stock Exchange to recognise the 25 best performing companies of 2010-2013, has announced Pakistan Remittances Initiative (PRI) scheme after consulting several banks.
Under PRI scheme the government pays the remittances fee. As per the new scheme, on remittance of $200 (threshold), standard TT charges will be 20 Riyals.
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The Finance Minister said that all PRI arrears will be paid to banks by the government through the State Bank of Pakistan (SBP) from April-July 2015. He said that PRI is meant to encourage remittances through banking channels and hoped that the banks would play their due role to ensure maximum remittances by the overseas Pakistanis through banking channel.
Dar said with concerted efforts by the government, Pakistan’s economy has achieved position of stability.
“Pakistan of today is far better than the Pakistan as of May 2013”, Dar said while addressing an award ceremony here at Karachi Stock Exchange to recognize the 25 best performing companies, during 2010-2013. He said the previous governments also announced reforms but the element of effective implementation was missing. “We have not only introduced reforms but also ensured implementation-results are positive”, he maintained.
