THIS is apropos the news report ‘Government to facilitate remittances through tax exemptions? (April 29). It has been reported that the government has decided to facilitate remittances from overseas Pakistanis through tax exemptions and other incentives under a special loyalty programme with effect from the start of the next financial year.
Under these measurers, amongst others, the prevailing rate of reimbursement of telegraphic transfer charges against home remittances has been enhanced from 10 to 20 SAR for transaction between $100 and 200. This incentive of reimbursement for telegraphic transfer charges is available only to banks and microfinance banks.
In order to enhance home remittances through official channels the finance ministry should provide the above mentioned incentives of reimbursement of telegraphic transfer charges to exchange companies also.
Published in Dawn, May 4th, 2020