Money changers who help bring dollars into the nation can now take advantage of an alluring incentive program offered by the State Bank of Pakistan (SBP).
With this program, the nation’s foreign exchange reserves will be strengthened and remittances will increase.
A SBP circular states that depending on the amount of remittances, exchange companies will get different sums for every dollar transferred into Pakistan. In particular, businesses that send out fixed home remittances will profit by Rs. 2 for each dollar.
The payout climbs to Rs3 per dollar if remittances increase by 5% or total up to $25 million annually. The fee will be Rs4 for every dollar for money changers who receive remittances totaling more than $25 million.
