SBP Announces Home Remittance Incentive Scheme for Banks
Karachi: The State Bank of Pakistan (SBP) announced incentives for banks and exchange companies to bring remittances in the country, according to news sources.
Read More: Huge Trade Potential Exists Between Indonesia and Pakistan
The government has authorized the reintroduction of the incentive programme, which will be effective from July 1, 2021, to June 30, 2022, in order to support the promotion of home remittances. The programme will cover the fiscal year 2022 home remittance performance (FY22)
According to the SBP circular, if home remittances exceed the previous year in FY22, the government would provide incentives. The specifics are as follows:
- For 5% growth, the government will offer PKR 0.50 per each incremental USD mobilized.
- For 10% growth, the government will offer PKR 0.75 per each incremental USD mobilized.
- For 15% growth, the government will offer PKR 1 per each incremental USD mobilized.
Read More: DHA Multan Holds Soft Launch of Rumanza Golf & Country Club
According to the central bank, the post-Eid drop in remittances was smaller than the prior year. Pakistan’s remittances amounted at USD 1.87 billion in May 2020.
Remittances from foreign employees reached USD 26.7 billion in the current financial year, a 29.4 % increase over the previous year. According to estimates, the United Arab Emirates (UAE), the United States (US), the United Kingdom (UK), and Saudi Arabia received the majority of remittances inflows during the July-May fiscal year 2021.
For more information, please get in touch with Al Sadat Marketing.
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005