The government has proposed to introduce attractive facilities to overseas Pakistanis and a scheme to ensure supply of dollars to the country, which is expected to increase substantially in remittances and foreign exchange.
According to officials, the IMF has already opposed any kind of amnesty scheme. Therefore, there is a plan to start a discount scheme instead of an amnesty scheme for overseas Pakistanis, which will help 70 sub-industries including steel, electronics, furniture, tiles etc.
According to FBR officials, remittances decreased by 13% in the first ten months of the current financial year to 22 billion 74 million dollars.
According to the proposed scheme, the overseas Pakistanis who make the payment for the purchase of property in dollars through backing channels will get tax incentives. It has also been proposed to reduce the regulatory duty on certain construction materials including steel and tiles. A reduction proposal also came up.
The launch of the proposed scheme is expected to increase remittances and foreign exchange substantially, and Finance Minister Ishaq Dar has sought budget recommendations related to the construction sector.