KARACHI: The Exchange Companies Association of Pakistan (Ecap) announced to donate Rs20 million for the construction of Bhasha and Mohmand dams.

“This was announced during a meeting with Finance Minister Asad Umar on Tuesday in Islamabad,” said Ecap Secretary General Zafar Paracha.

The meeting was held on Ecap’s request.

Mr Paracha said Ecap demanded to stop incentive on remittances under PRI (Pakistan Remittance Initiative) which is about Rs70-80 billion annually.

He said this is a wrong impression that remittances increased due to PRI. He proposed that incentives should be given to the remitter, instead of banks.

Published in Dawn, September 12th, 2018