ISLAMABAD – To give a boost to the flow of remittances into the country,the government is going to permit overseas Pakistanis duty-free import ofhybrid cars of up to 3,000cc engine capacity provided that an expatriateremits a minimum of $100,000 in two years.
The move is aimed at attracting offshore money into the country.
The Engineering Development Board (EDB) has issued a notice to thestakeholders, inviting their comments on the proposal of duty-free importof one hybrid car of up to 3,000cc by Foreign Exchange Remittances Card(FERC) holders who remit $100,000 over a period of two years.
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“In recognition of our overseas Pakistanis who utilise banking channels tosend money back home, my ministry has proposed to reward them for theircontribution to the national exchequer,” tweeted Special Assistant to PrimeMinister on Overseas Pakistanis Syed Zulfiqar Abbas Bukhari.
