Remittance Loyalty Program Approved for Overseas Pakistanis

Web Desk — The Economic Coordination Com­mi­t­tee (ECC) of the Cabinet on Wednesday approved the National Remittance Loyalty Programme (NRLP) carrying incentives to encourage overseas Pakistanis to send remittances through legal channels.

According to the summary presented by Incharge Secretary Finance Yousaf Khan to ECC, the NRLP will offer incentives/rewards to overseas Pakistanis for sending remittances to Pakistan based on the point’s accumulation structure.

The NRLP scheme will come into effect from October 1, which envisages 1pc reward points on annual remittance of up to $10,000 equivalent, 1.25pc reward on up to $30,000 of annual remittance, and 1.5pc reward points on above $30,000.

An Android and iOS based Mobile App (both in English and Urdu) has already been developed from the objective by 1-Link for this purpose.

Under the initiative, overseas Pakistanis shall be qualified to avail a number of services equivalent to the amount of the awarded points under NRLP against redemption of the accumulated points. For example, the reward points would be available for use against the PIA tickers or pay for extra luggage on its international flights.

All home remittances via formal channels are eligible to the scheme including funds received through Roshan Digital Accounts (RDAs) and used and consumed in Pakistan.

The scheme would cost the exchequer about Rs13.1 billion this year.