National Saving Schemes To Be Introduced for Overseas Pakistanis

There are plans to bring National Saving Schemes exclusively for overseas Pakistanis so that they can put their earnings towards attractive returns.

National Savings Director General Waqar Ahmed recently revealed plans for introducing such a scheme at a meeting at the Ombudsman Secretariat. The Central Directorate of National Savings (CDNS) was recently meeting there to review recommendations for helping the common man, as put forward by M. Salman Faruqi, the Federal Ombudsman.

Former secretary finance Abdul Wajid Rana, head of the committee on CDNS, chaired the meeting. The meeting also called for restructuring the workings of  CDNS as per the recommendations put forward by the Ombudsman committee.

Chief Minister of Punjab Shahbaz Sharif also called for safeguarding the rights of Pakistanis living abroad last week. He stressed on the efforts made by the expatriate Pakistani community in bringing invaluable foreign exchange in the country. He was chairing the Overseas Pakistanis’ Commission, Punjab when he made these statements.

“No one will be allowed to usurp the rights of Pakistanis living abroad or grab their properties. There is a need for collective efforts to ensure the rights of overseas Pakistanis and to resolve their problems. Problems of Pakistanis living abroad will be resolved on a priority basis. They will be provided political, legal and moral help.” he said.

It should be mentioned that overseas Pakistanis have brought in $16 billion in remittances to Pakistan during July 2015 to April 2016 this year, up 5.25% from the previous year’s level as per SBP’s estimates. Introducing National Saving Schemes for Overseas Pakistanis can help attract more foreign exchange in the country.