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Incentivize the goose that lays the golden $ egg: Imran terms expats biggest asset of Pakistan

Car finance & charity incentives introduced for diaspora

Pakistani Prime Minister Imran Khan attends talks with Chinese President Xi Jinping (not pictured) at the Great Hall of the People in Beijing, November 2, 2018. REUTERS/Thomas Peter/Pool

Prime Minister Imran Khan urged all Pakistani embassies and high commissions to not create problems and instead resolve issues of Pakistani expatriates as the nine million overseas Pakistanis are the “biggest asset” of the country.

“They (overseas Pakistanis) are Pakistan’s biggest asset and their remittances have kept the national economy afloat,”

“They (overseas Pakistanis) are Pakistan’s biggest asset and their remittances have kept the national economy afloat,” he said while addressing the launching ceremony of two digital incentives for Pakistani expatriates — Roshan Apni Car (car finance) and Roshan Samaji Khidmat (charity).

He further acknowledged the services of Pakistani laborers who work abroad in tough conditions and send hard-earned money to their families in Pakistan.

“It is the duty of foreign missions to extend best possible services to Pakistani labourers and workers.”

He added.

Crossing $1 billion mark, the country’s foreign remittances had witnessed a rec­ord growth in one year, he said.

“By the time we achieve the required volume of exports, remittances by overseas Pakistanis is the only way to keep our economy moving.”

Mr Khan said.

“However, this is just the tip of the iceberg as immense possibilities lie ahead if more overseas Pakistanis divert resources towards the promising projects, including those in construction sector,” he said.

While lauding the efforts of of the State Bank of Pakistan (SBP) and the private banks for supporting the government’s initiatives, he mentioned the poor economic strategies of previous governments leading to difficulties in boom and bust cycles.

Furthermore, SBP President Dr Reza Baqir said under the Roshan Apni Car scheme, overseas Pakistanis would be one click away from digitally purchasing a car for their families and friends in Pakistan on reduced mark-up and delivery time.

Roshan Samaji Khidmat would offer a simplified mode for the expatriates to send donations to Pakistan, including to its flagship Ehsaas socio-welfare project.

He said the government was pursuing the goal of transforming the financial system of the country to facilitate the common man.

He said that the first major milestone of receiving $500 million was passed five months after the introduction of the RDA. After only another two months, the $1bn mark has been crossed, demonstrating the accelerating pace of inflows.

He noted that more than 120,000 Roshan Digital Accounts had been opened from 170 countries around the world.

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