ISLAMABAD: Minister for Finance and Revenue Muhammad Aurangzeb announced on Tuesday that overseas Pakistanis have sent a record $31.2bn in remittances during the first 10 months of the current fiscal year, marking a 31% increase compared to the previous year.
The finance minister emphasized the significant role of overseas Pakistanis in strengthening the country’s economy, highlighting that remittances had increased by $10 billion over the past two years.
In his budget speech, Aurangzeb expressed deep gratitude to the Pakistani diaspora for their vital contributions, which have also led to an improvement in the country’s current account. The government is committed to providing additional support and facilities to overseas Pakistanis to encourage their continued participation in the country’s development.
The minister outlined several measures aimed at facilitating expatriates, including the establishment of special courts for overseas Pakistanis, following directives from Prime Minister Muhammad Shehbaz Sharif.
He also announced the introduction of an online system for case registration and evidence collection, as well as reforms to civil procedures to prevent fraudulent cases.
To further support the Pakistani diaspora, the government will establish a quota for the children of overseas Pakistanis in chartered universities and medical colleges, and scholarships will be offered for skill training programs.
Additionally, the finance minister revealed that the top 15 remittance senders through the State Bank will be awarded civil honors every year on August 14. These initiatives are part of the government’s broader strategy to strengthen ties with overseas Pakistanis and incentivize their continued contributions.
