Government to announce new package to boost remittances

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MG News | April 08, 2019 at 12:59 PM GMT+05:00

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April 8, 2019 (MLN): In order to increase remittances sent by overseas Pakistanis through banking channels, Pakistani banks will soon launch a series of initiatives.

These initiatives would increase remittances by curbing the illegal ways of transferring money such as hundi or hawala system and easing out financial constraints for those who are willing to discover employment opportunities abroad.

According to Khaleej Times, senior bank officials and industry executives said that the government is finalizing a new package under which banks will provide one-month advance salary to overseas workers as well as financial support to those Pakistanis who will be going abroad on job visa.

Back in October 2018, government took an initiative to increase the inflow of remittances by removing hindrances and procedural issues faced by overseas Pakistanis during the immigration process.

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