ISLAMABAD: Pakistan’s central bank launched a new ‘Diamond’ category in its remittance program for overseas Pakistanis on Friday, promising additional benefits to category holders such as preferential treatment at embassies and airports, and gratis passports.
The Sohni Dharti Remittance Program (SDRP) is a point-based loyalty scheme for remitters who work abroad and send money to their relatives in Pakistan through banking channels or exchange companies.
Remitters earn reward points based on a certain percentage of every remittance they send. The SDRP program already has three categories: Green (annual remittances of up to $10,000), Gold (annual remittances from $10,001 to $30,000) and Platinum (annual remittances of more than $30,000). The statement did not specify the amount for the Diamond category.
“Effective from September 22, 2023, a new ‘Diamond’ category has been added in the Sohni Dharti Remittance Program (SDRP),” the State Bank of Pakistan (SBP) said in a statement.
Remitters can track their remittances and reward points through the SDRP app on their smartphones.
The SBP recalled former finance minister Ishaq Dar’s statement in which he said the Diamond category would include enhanced reward points and benefits such as arms license of non-prohibited bore, preferential treatment at Pakistan embassies/airports, and gratis passports.
It said reward points can be redeemed by the remitter and their beneficiary by availing free of cost products and services such as the payment of the Emigrant Registration fee, payment of duty for imported mobile sets and vehicles to the Federal Board of Revenue (FBR), and the payment of renewal fee for passports.
“Moreover, benefits on redeeming reward points can also be availed on International air tickets and extra luggage charges by Pakistan International Airlines; life insurance/takaful premium payment at State Life Insurance Corporation; and purchases made at Utility Stores Corporation of Pakistan,” the SBP added.
Pakistan relies heavily on remittances to keep its cash-starved economy afloat. According to official data by the SBP, the South Asian country received $27 billion in remittances during the outgoing fiscal year, FY23.
Saudi Arabia and the UAE remained the top contributors of money sent home by Pakistani workers during FY23.
Pakistan launches ‘Diamond’ category in loyalty scheme for remitters, promising new benefits
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Pakistan launches ‘Diamond’ category in loyalty scheme for remitters, promising new benefits
- Remitters can avail preferential treatment at airports and embassies and get gratis passports
- The South Asian country relies heavily on foreign remittances to keep its cash-starved economy afloat
Pakistan highlights economic reforms at Davos, eyes cooperation in AI, IT and minerals
- Prime Minister Shehbaz Sharif speaks at breakfast event in Davos at sidelines of World Economic Forum summit
- Pakistan, rich in gold, copper reserves, has sought cooperation with China, US, Gulf countries in its mineral sector
ISLAMABAD: Prime Minister Shehbaz Sharif highlighted Pakistan’s recent economic reforms during the sidelines of the ongoing World Economic Forum (WEF) summit in Davos on Wednesday, saying that his country was eyeing greater cooperation in mines and minerals, information technology, cryptocurrency and artificial intelligence with other states.
The Pakistani prime minister was speaking at the Pakistan Pavilion in Davos on the sidelines of the WEF summit at a breakfast event. Sharif arrived in Switzerland on Tuesday to attend the 56th annual meeting of the WEF, which brings together global business leaders, policymakers and politicians to speak on social, economic and political challenges.
Pakistan has recently undertaken several economic reforms, which include removing subsidies on energy and food, privatization of loss-making state-owned enterprises and expanding its tax base. Islamabad took the measures as part of reforms it agreed with the International Monetary Fund (IMF) in exchange for a financial bailout package.
“We are now into mines and minerals business in a big way,” Sharif said at the event. “We have signed agreements with American companies and Chinese companies.”
Islamabad has sought to attract foreign investment in its critical minerals sector in recent months. In April 2025, Pakistan hosted an international minerals summit where top companies and government officials from the US, Saudi Arabia, China, Türkiye, the UK, Azerbaijan, and other nations attended.
Pakistan is rich in gold, copper and lithium reserves as well as other minerals, yet its mineral sector contributes only 3.2 percent to the countrys GDP and 0.1 percent to global exports, according to official figures.
Sharif said Pakistan has been blessed with infinite natural resources which are buried in its mountains in the northern Gilgit-Baltistan, Khyber Pakhtunkhwa, Azad Kashmir and southwestern Balochistan regions.
“But we have now decided to go forward at lightning speed,” he said. “And we are also moving speedily in the field of crypto, AI, IT.”
He said the government’s fiscal and economic measures have reduced inflation from nearly 30 percent a few years ago to single-digit figures, adding that its tax-to-GDP ratio had also increased from 9 to 10.5 percent.
The prime minister admitted Pakistan’s exports face different kinds of challenges collectively, saying the country’s social indicators needed to improve.
“But the way forward is very clear: that Pakistan has to have an export-led growth,” he said.
SHARIF MEETS IMF MANAGING DIRECTOR
Separately, Sharif met IMF Managing Director Kristalina Georgieva on improvements in Pakistan’s macroeconomic indicators, efforts toward stability and progress on institutional reforms, a statement from Sharif’s office said.
He emphasized Pakistan’s commitment to fiscal discipline, revenue mobilization and sustainable development, it added.
The IMF managing director acknowledged and appreciated Pakistan’s reform efforts, the Prime Minister’s Office (PMO) said.
“Both sides exchanged views on the global economic outlook, challenges facing emerging economies, and the importance of multilateral cooperation in safeguarding economic stability,” the PMO said.
