LAHORE – Businessmen Panel (BMP) for Federation of Pakistan of Chambers ofCommerce and Industry (FPCCI) on Monday demanded of the government toannounce special measure to facilitate overseas Pakistanis for openingdollar account in Pakistan.Talking to media here, BMP Chairman Mian Anjum Nisar said that overseasPakistanis should also be allowed to transfer their amount through internetbanking, citing that it would encourage the expats to keep their foreigncurrency in Pakistani banks.He said that in western countries, the customer had the facility totransfer their money anywhere in the world through internet banking oronline transfer, therefore, he said the government should ask SBP (StateBank of Pakistan) to make a mechanism with the help of NADRA (NationalDatabase Registration Authority) to open banking accounts online foroverseas Pakistanis so that country’s foreign remittance may increase.He was of the view that overseas Pakistanis were national asset and playingan important role in improving the country’s financial condition throughremittances.Anjum Nisar claimed that Pakistan could receive over $30 billion viaforeign remittances if bottlenecks faced by banks and money transferexchanges were removed.
Similarly, he said, embargo of tax filer for overseas Pakistanis should beremoved to open bank account in foreign currency because they earned moneyin other country and already paid taxes in that country.However as per new rules, being a taxpayer was the pre-requisite foropening any new foreign currency account but the account holders would bepaid in local currency instead of foreign currency, he concluded.
