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KARACHI: The State Bank of Pakistan (SBP) has announced the launch of Diamond Category in the Sohni Dharti Remittance Programme to enhance inflows.

Effective from September 22, 2023, a new ‘Diamond’ category has been added in the Sohni Dharti Remittance Programme (SDRP). The new category is in addition to existing three categories namely, ‘Green’, ‘Gold’ and ‘Platinum’.

According to SBP, the then Finance Minister Ishaq Dar in his budget speech for FY24 had announced the addition of Diamond category with enhanced reward points and provision of other benefits like arms licence of non-prohibited bore, preferential treatment at Pakistan embassies/airports and gratis passport to the Diamond Category holders.

Remittance schemes: Rs20bn out of Rs80bn allocation released to SBP: minister

SDRP is a point-based loyalty programme in which remitters accumulate reward points by sending remittances through formal channels (SBP regulated entities).

Reward points can be redeemed by remitter and their beneficiary for availing free of cost products and services i.e. Emigrant Registration fee at Bureau of Emigration & Overseas Employment; duty payment of imported mobile sets and vehicles to Federal Board of Revenue; School fee by Overseas Pakistanis Foundation (OPF); and renewal fee of passports at Directorate General of Immigration & 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.

Copyright Business Recorder, 2023

Comments

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Ghareeb Awam Sep 24, 2023 07:15am
These are the meanest steps one can imagine. We shall never learn, never.
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Ahmad Sep 24, 2023 10:59am
@Ghareeb Awam, how so ? Can you please elaborate with technical verbosity , on the 'empirical' inference you've deduced from your discernment, that how in the world it is mean rather than giving off nothing and letting them supply money to the hundi hawala holders ?
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Ch K A Nye Sep 25, 2023 09:53am
@Ahmad, ALL these reward point benefits can easily be bought with the extra funds generated by remitting through hawala/hundi. These so called benefits are worthless gimmicks.
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