KARACHI: The Executive Director State Bank of Pakistan (SBP) Akhtar Javed and Director General, Bureau of Emigration and Overseas Employment (BE&OE) Akram Ali Khowaja jointly launched the Pre-Departure Briefing Program for outgoing workers.
The program will be organized in all Protectorate of Emigrants (PE) Offices across Pakistan.
The launch event was attended by the senior officials of SBP, PRI, BE&OE and representatives of the large remittance mobilizing banks.
The Pre-Departure Briefing Program has been developed by Pakistan Remittance Initiative (PRI) in collaboration with Bureau of Emigration and Overseas Employment (BE&OE) and banks.
The program is the key initiative for domestic outreach for educating outgoing workers to use formal channels for sending home remittances. As the outgoing workers are required to register with PE Offices across Pakistan; therefore, the program presents an excellent opportunity, on ongoing basis, to educate outgoing workers for using formal channels for sending remittances back home and opening their own and their beneficiary’s bank accounts.
The program aims to educate intending overseas workers about formal channels for sending remittances, assist them in opening bank accounts, especially joint accounts, highlight the risks involved in using informal channels and update outgoing workers about government’s programs / schemes as well as banks’ products related to home remittances.
In his address, Akhtar Javed highlighted the significance of home remittances for the Pakistan’s economy. He elaborated that the remittances provide stability to the country's economy by boosting foreign exchange reserves and supporting the balance of payments.
Shedding light on the importance of the Pre-Departure Briefing Program, he hoped that it will play a crucial role in raising awareness among intending overseas workers about formal channels besides informing them about the risks involved in the informal channels.
Head PRI Zulfiqar Khokhar provided details of the program, the activities to be undertaken and roles and responsibilities of banks, SBP/ PRI and BOE&OE.
While concluding the event, Director General Akram Ali Khowaja appreciated State Bank of Pakistan, PRI and banks for initiating the program for the overseas workers. He further assured that BE&OE will fully cooperate and provide platform to banks to successfully achieve the desired objectives of the program.
Copyright Business Recorder, 2023
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