The government has directed a major push to overhaul the country’s remittance system, aiming to slash transaction costs and cut transfer times for funds sent home by overseas workers. The initiative is set to ease the financial process for millions of expatriates and their families who depend on these crucial inflows.
The call for reform was led by Deputy Prime Minister and Foreign Minister Ishaq Dar, who chaired a high-level meeting in the capital on Friday. The session was convened to review the stream of foreign exchange sent from abroad, with a particular focus on inflows from Gulf Cooperation Council (GCC) countries.
During the discussion, Mr. Dar emphasized the urgent need to increase, improve, and streamline the flow of funds through the greater use of digital technologies. He advocated for a modernized approach to simplify the procedure for Pakistanis working overseas.
The Deputy Prime Minister also underscored that minimizing the time it takes for money transfers to reach recipients and lowering the associated service charges are critical components of the strategy. This focus is intended to better serve the large community of overseas Pakistanis and provide more efficient financial support to their dependents.