The federal government has introduced Roshan Apni Car Scheme to facilitate Overseas Pakistanis from different countries.

The move is aimed at increasing the flow of foreign remittances/investments through Roshan Digital Account as well as push the auto sales of the local brands in the future.

The scheme is receiving accolades for not being a typical amnesty scheme, rather extending a gesture of acknowledgment for Overseas Pakistanis’ precious support towards increasing dollar reserves of the State Bank of Pakistan (SBP) through remittances.

The ‘Roshan Apni Car’ scheme will facilitate non-resident Pakistanis (NRPs) to purchase cars at a lower price. The cars will be available at lower financing rates (7%) for overseas Pakistanis whose families are willing to buy cars in the country through conventional and Islamic banks.

Currently, people have to pay 12 to 13 percent on car financing at conventional banks, while NRPs can avail the facility at 7 percent. This means that Overseas Pakistanis will get the cars 20 percent cheaper.

The scheme also offers other incentives to Overseas Pakistanis. As compared to past schemes, the car schemes have been successful in which 3-5-year old cars were allowed to be imported by families of overseas Pakistanis under personal baggage, gift schemes and transfer of residence.