Karachi: (RightNow) State Bank Governor Jameel Ahmed has inaugurated the Pasban Remittance Scheme. Under this scheme, Rs 16 billion in cash prizes will be awarded annually.

Governor Jameel Ahmed stated that remittances have reached $41 billion, highlighting their growing importance in the national economy. Banking facilities are being improved to further increase remittances.

He further mentioned that export-led economic growth is being promoted, with measures being taken to enhance exports. Currently, the country’s exports stand at $31 billion.

It is clear that the State Bank has taken steps to stabilize foreign exchange reserves and the market. In the past, the current account deficit reached $18 billion.

It should be noted that the scheme aims to encourage overseas Pakistanis to use formal channels for remittances. This scheme will not burden the national treasury.