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 extends airspace ban on Indian-registered aircraft by another month
- This is the 8th extension of the ban after an attack in Indian-administered Kashmir triggered an India-Pakistan conflict in May
- The restriction has forced Indian airlines to reroute their flights, increasing fuel consumption, travel times and operating costs
ISLAMABAD: Pakistan has extended a ban on Indian-registered aircraft from using its airspace until late February, the Pakistan Airports Authority said on Wednesday, prolonging restrictions that have disrupted flight routes for Indian airlines.
Pakistan first imposed the restriction on April 24 as part of a series of tit-for-tat measures announced by both countries days after an attack in Indian-administered Kashmir.
New Delhi blamed the attack, which killed 26 tourists, on Pakistan. Islamabad denied any involvement and called for a credible, international investigation into the attack.
Tensions quickly escalated after India targeted several sites in Pakistan and Azad Kashmir, triggering intense missile, drone and artillery exchanges before a US-brokered ceasefire took effect on May 10.
“The ban on Indian flights has been extended till 5am on February 24,” the PAA said in a statement. “The ban will apply to aircraft owned, operated or leased by Indian airlines, including military flights.”
This marks the eighth extension of the ban, which has forced Indian airlines to reroute international flights, increasing fuel consumption, travel times and operating costs.
Last month, Pakistan accused India of blocking humanitarian assistance destined for Sri Lanka after Cyclone Ditwah, saying a special Pakistani aircraft carrying aid was forced to wait more than 60 hours for overflight clearance.
Pakistan later sent relief supplies and rescue teams to the island nation by sea, officials said.
