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Home Remittance Incentives Scheme announced for overseas Pakistanis (Check details)

08:53 PM | 15 Sep, 2023
Home Remittance Incentives Scheme announced for overseas Pakistanis (Check details)
Source: File Photo

ISLAMABAD - To direct remittances from Pakistanis living abroad, Finance Minister Dr. Shamshad Akhtar has proposed a Home Remittance Incentives Scheme worth 80 billion rupees.

She claimed twenty out of the eighty billion rupees had been provided immediately for this purpose while speaking to the media in Islamabad on Friday.

Giving details of this scheme, the Minister said the government will cover all the charges to be incurred on telegraphic transfers of funds worth 100 dollars or above by the overseas Pakistanis. She said this will enable remitters to send money free off cost.

Dr Shamshad Akhtar further said that the government will pay twenty Saudi Riyals to participatory banks for providing this facility to the remitters.

Under another category of the scheme named Sohni Dharti, remitters can accumulate their points to redeem them for getting extra benefits.

She said the government will also incentivize the marketing for home remittances. She said the scheme has also designed lucky draws for the remitters who will utilize legal channels to send their money at home.

Reassuring the support of banking channels for home remittances, the Minister urged the overseas Pakistanis to get befits of this scheme by utilizing legal channels of sending money to their loved ones.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

Today’s currency exchange rates in Pakistan - 20 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08

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