Federal Finance Ministry, Ministry for Overseas Pakistanis and State Bank of Pakistan (SBP) on Saturday launched historic Pakistan Remittance Initiative (PRI) with a target to double the remittances volume within next two to three years. This will bring a fundamental change in the country's remittance regime to boost and facilitate the flow of remittances sent home by non-resident Pakistanis. Minister for Overseas Pakistanis Dr. Farooq Sattar, Federal Finance Minister Senator Shaukat Tarin and Governor State Bank of Pakistan Syed Salim Raza jointly launched this initiative. Presidents of different commercial banks were present at the launching ceremony held at SBP Headquarters Karachi. Federal Finance Minister Senator Shaukat Tarin on this occasion said this event will go down in the history as a memorable moment whereby we are laying down the foundation of perpetual structure for facilitating the flow of remittances by non-resident Pakistanis. I hope with the launch of this initiative, we would be able to double the volume of remittances within the next two to three years, he asserted.
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