ISLAMABAD: The government has approved new schemes to encourage remittance inflows through banks and money changers, aiming to increase both remittance volumes and financial benefits.
Under the new measures, money changers will receive 2 rupees per dollar for declaring remittances to banks. If remittances exceed targets compared to the previous year, the profit will rise to 3 rupees per dollar, and an additional 4 rupees per dollar for further increases. Exchange companies achieving 25 million dollars or 5% growth will earn extra profits.
Additionally, the Telegraphic Transfer (TT) scheme has been revised to offer enhanced financial benefits. The profit margin for increased remittances has been raised to 35 riyals, with an expected 10% growth in remittances due to these new approvals.
Fixed-rate profits will be provided to those receiving regular monthly remittances, with a 4-rupee profit per dollar for annual remittances of 25 million dollars. The new policies are expected to significantly boost remittances and financial gains for banks and money changers.
[9:26 pm, 30/08/2024] M Jaffery: Pakistan earns $46.7m from mango exports to 42 countries
ISLAMABAD, Aug 30 (INP): Pakistan has revealed earnings of $46.7 million from mango exports this year, according to details presented by the Ministry of Commerce.
The report highlights that Pakistan exported mangoes to 42 countries, with the United Kingdom and the United Arab Emirates (UAE) being the largest markets. The UK imported $13.2 million worth of mangoes, while the UAE purchased $9.2 million worth.
Other key markets included Afghanistan, which imported $2.2 million worth of mangoes, Saudi Arabia with $1.3 million, and Oman with $1.7 million in mango imports.
Kazakhstan also emerged as a significant market, importing mangoes worth $8.95 million, followed by Germany at $1.9 million. Various other countries accounted for an additional $4.4 million in mango exports. In total, Pakistan exported 13,681 metric tons of mangoes during the current fiscal year.
