Pakistan Government is preparing for a significant package for overseas Pakistani’s
Pakistan’s federal government has decided to give a significant package to Pakistani’s abroad. In the current situation and this regard, an exceptional package will be given to remittances soon in the next financial year. Pakistan Government also decided to announce the National Remittance Loyalty Program in the coming September 2020.
The National Remittance Loyalty Program will be initiated with the collaboration of different commercial banks.
According to the Ministry of Finance, the withholding tariff on remittances will be waived off from July 1, 2020. The reason behind taking this decision was to increase remittances in the budget for the next financial year 2021.
On the other hand, different sources said that the FBR has started work on holding tax exemption. The finance bill will also be amended in the budget for the next financial year 2021.
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