Pakistan Post and National Bank of Pakistan (NBP) have collaborated with each other to introduce foreign remittance service for Overseas Pakistanis. Through this partnership, the expatriates would be able to send money back home without any charges.
According to the Federal Minister for Communications and Postal Services, Murad Saeed said that the notion of this service is to encourage Overseas Pakistanis to send money to Pakistan through legal channels. While inaugurating the service, the President of NBP Arif Usmani and the DG of Pakistan Post Naseer Ahmed Khan were also present alongside the federal minister.
Speaking to the media, Murad Said commented:
“Overseas Pakistanis live in the heart of the prime minister. Labourers working abroad painfully save money to send back to their families here. The family of a labourer will be paid 100 dirhams for 100 dirhams that they send and Pakistan will overcome many sanctions imposed upon it by thwarting illegal means of monetary transfers”
Federal minister further added that the foreign remittance service would be readily available across 230 post offices within the country. Moreover, the service will be free of any charges.
Furthermore, he added:
“We will end up the system of hundi and hawala in Pakistan. Payments coming from Saudi Arabia and United Arab Emirates will be delivered to the recipient at their doorstep”
Pakistan Post is on the move
Murad Saeed informed that Pakistan Post has so far delivered colossal 76,000 parcels to valuable customers. In addition, the service is also keen on providing loans to small-sized businesses besides offering subsidies.
Additionally, he said:
“We will personally render marketing services for small enterprises. The government has started electronic money orders in postal services”
There are currently 12,000 post offices in Pakistan. However, the number is expected to amplify to 27,000 in next six months, as per Murad Saeed.
While talking about Overseas Pakistanis, the minister said 1.5 million Pakistanis are being employed in Saudi Arabia alone. Therefore, the collaboration between Pakistan Post and NBP will help them greatly.
The President of NBP, Arif Usmani said that Overseas Pakistanis send up to $20 billion every year out of which $10 billion come from Hawala and Hundi. He stressed:
“We need to bring this amount through a proper channel. The service of Pakistan Post will greatly add to the foreign exchange reserves of the country”
Do you think this initiative will empower expatriates to send money to Pakistan through legal and proper channels?