Remittance Card

Foreign Exchange Remittance Card
 

 Remittances by Overseas Pakistanis, through normal banking channels, are a vital source of balance of payments support for the country. Funds channelled through hundi or other means bypass legal conduits and deprive the country of much needed support. Cognizant of the problem of diminishing home remittances, the government has initiated concerted program to facilitate those Non-Resident Pakistanis who remit money through normal banking channels.

Towards this end, a special package to facilitate the Overseas Pakistani community has been implemented, comprising the following salient features

 
    Non Resident Pakistanis remitting foreign currency equivalent to US$2,500 per annum to Pakistan shall be entitled to :
  • Separate counters for special handling at arrival and departures lounges at airports.
  • Free issuance and renewal of passport on an urgent basis.
  • Duty free allowance of personal baggage of a value of US $1,000 during a calendar year
     Non Resident Pakistanis remitting foreign currency equivalent to US$10,000 or more shall be entitled to the following benefits
  • Separate counters for special handling at arrival and departures lounges at airports.
  • Free issuance and renewal of passport on an urgent basis.
  • Duty free allowance of personal baggage of a value of US $2,000 during a calendar year.

        Following facilities which would be available in due course of time

  • Special quota to be reserved in the public sector professional colleges and universities, while maintaining the minimum standards of the institution.
  • An allocation of upto 25% in initial Public Offerings (IPOs).
  • Ballot of choice plots in public housing schemes at attractive prices.
  • Discount in auctions of industrial units by Corporate and Industrial Restructuring Corporation (CIRC).
  • Special allocation of shares in privatization of government owned entities
  • Duty free imports of various electrical / machinery items such as DVD, CD Players, Tape Recorders, Sewing Machines and Gas Burners has also been allowed. 
        How to Apply
  • As soon as the remitter achieves the remittance target (US$2,500 or US$10,000) in the stipulated time frame, he may fill in the prescribed application form and submit it to the OPF Head Office in Pakistan or the Pakistani Mission abroad, along with the Remittance Book in person or through courier service.
  • Remittances would ordinarily be acknowledged / stamped into the Remittance Book through the remitting bank. In case the remitting banks do not verify the transaction in the Remittance Book, the remitter may get the acknowledgement receipt of remitted amount from the bank and get the same acknowledged / stamped into the Remittance Book by the foreign Mission/ OPF.
  • Upon verification, the embassy staff would send the application to the OPF Islamabad on a weekly basis for issuance of Remittance Cards. OPF would return the manufactured cards to the respective missions abroad for their onward dispatch to the applicants
       Application From can be downloaded from here (PDF Format)

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(Syed Shahid Hussain Tirmizi)