Lahore: The federal government has introduced the Pakistan Remittance Initiative (PRI) that will make it cheaper for overseas Pakistanis to send remittances back to the country, a news source reported. In this regard, the Pakistan Post Office Department (PPOD) and the National Bank of Pakistan have entered in to an arrangement under the PRI — allowing Remittance Beneficiaries to collect their payments sent from abroad free of charge.
The beneficiaries will use the NBP Remittance Services from the Pakistan Post Office locations across the country. The collectors will have to provide their original CNIC number, PIN Code/Secret PIN Number, remitter’s name and other details, and amount of remittance expected.
Those seeking to send their remittance through a selected branch of the Pakistan Post can visit NBP’s correspondents and request a cash transaction for NBP. The booking agents will provide the remitters with a PIN Code, which they will have to share with the receiver, along with the exact amount of payment in Pakistani Rupees. For payments over USD 200, the remitter can send them free of charge, and the receiver can collect these without any cost from either NBP or Pakistan Post locations.
While inaugurating the PRI, Prime Minister Imran Khan stated that overseas Pakistanis using this system will obtain rewards for using legal channels in order to send money. He added that the government has directed the ambassadors to facilitate overseas individuals in every way possible.
