February 13, 2024 (MLN): As many Pakistanis are unaware of the formal or legal process for withdrawing dollars through their foreign accounts, it is important to draw attention to the fact that presently there are 13 registered Dollar Automated Teller Machines (ATMs) located across the country.
Native freelancers frequently face hurdles as their inflows from foreign countries incur substantial charges with the country struggling to develop its payment gateway and certain requisites being imposed by the central bank.
The primary objective of these IT professionals is to have the ease of withdrawing and using their dollar amounts when needed.
With the IT & Telecom sector being hailed as the potential saviour for Pakistan through its immense potential for exports, the central bank has now eased regulations and requirements for freelancers to open their U.S. Dollar account.
According to Ibrahim Amin, Chairman Pakistan Freelancers Association (PAFLA), freelancers demand 100% retention of their foreign currency, which the government can not provide due to the persistent Dollar shortage.
Resultantly, IT professionals invest their foreign earnings in other countries, where they can freely access and spend without any governmental regulations and charges.
On a positive note, the State Bank of Pakistan (SBP) has permitted a 50% retention policy, whereby 50% of the earnings are converted into Pakistani Rupees (PKR), and the remaining half is retained in U.S. Dollars.
The amount in total can easily be withdrawn through a Dollar debit card, which will be granted to these individuals once they provide an undertaking as a freelancer.
This development comes as a huge relief for IT experts, who previously lacked authorized payment gateways. This resulted in hurdles in receiving payments from international clients, leading to delays of almost 5-6 months in processing hard-earned foreign currency.
Now, individuals can access their own respective free-of-cost payment gateway by opening a remote Dollar bank account.
Concerning the availability of these Dollar ATMs, Karachi and Lahore hold the majority, with both cities operating four of the 13 ATMs each.
In Islamabad, there are currently two ATMs, while Rahim Yar Khan, Sialkot, and Rawalpindi each possess one ATM.
List Of US Dollars ATMs
| S. No | ATM ID | Location | City | Location Type |
|---|---|---|---|---|
| 1 | 1178 | Hassan Square Branch Karachi PK | Karachi | Onsite |
| 2 | 2265 | Karachi-Khyaban-e-Hafiz, DHA | Karachi | Onsite |
| 3 | 2525 | HBL Tower Branch | Karachi | Onsite |
| 4 | 5441 | World Trade Centre Br Clifton | Karachi | Onsite |
| 5 | 2551 | DHA Phase 5 BR Lahore PK | Lahore | Onsite |
| 6 | 0552 | Corporate branch Wapda House | Lahore | Onsite |
| 7 | 2264 | Z Block DHA Branch | Lahore | Onsite |
| 8 | 2297 | Main Boulevard Gulberg Kabana Br (Prestige Hall) | Lahore | Onsite |
| 9 | 0814 | SDV Rawalpindi | Rawalpindi | Onsite |
| 10 | 0160 | Shahi Road Rahim Yar Khan | Rahim Yar Khan | Onsite |
| 11 | 0519 | Cantt. Branch | Sialkot | Onsite |
| 12 | 2384 | Diplomatic Enclave Branch | Islamabad | Onsite |
| 13 | 9907 | College Road F7 Prestige Hall 2nd ATM | Islamabad | Onsite |
Copyright Mettis Link News
Posted on: 2024-02-13T13:21:25+05:00
