KARACHI:Businessmen Panel for Federation of Pakistan of Chambers of Commerce and Industry Chairman, Mian Anjum Nisar Wednesday demanded that government must announce special measures to facilitate overseas Pakistanis while opening dollar account in Pakistan and give them a facility to transfer their amount through internet banking as well so that expats could be encouraged to place their foreign currency in Pakistani banks.
He said currently, local banks had not given a single facility to overseas Pakistani while opening foreign currency account in Pakistan except placing dollars in accounts only which discourage the expats to invest in our banking channels.
BMP Chairman said in western countries, the customer had the facility that they could transfer their money anywhere in the world whenever they wanted through internet banking or online transfer. He further viewed the government should ask SBP to make a certain mechanism with the help of NADRA to open banking accounts online for overseas Pakistanis so that foreign remittance could increase.
Its times the State Bank of Pakistan needs to simplify the procedures and facilitation for overseas Pakistanis. Overseas Pakistanis are among national assets and could play an important role in improving the country’s financial condition through remittances” he said and stated” “Pakistan can receive over $30 billion via foreign remittances if bottlenecks and challenges being faced by bank and money transfer exchanges get removed”
Similarly for overseas Pakistanis, embargo of tax filer should be removed to open bank account in foreign currency because they have earned money internationally and pay their taxes in the country where they lived, however, as per new rules being, a tax payer is the pr-requisite for opening any new foreign currency account but the account holders would be paid in local currency and not internationally; he concluded.
Nisar also hoped that now Pakistan ruppee shall be stable after the increasing in country foreign reserves which as around $15 billion. He said: “We appreciated the efforts of Prime Minister Imran Khan along his dynamic efforts and credibility.