Remittance - Roshan Digital Pakistan
The Commercial Section, Consulate General of Pakistan, Houston is responsible for promotion/facilitation of exports of Pakistan including investment in Pakistan. It’s areas of jurisdiction are Arkansas, Louisiana, New Mexico, Oklahoma, Texas and all US territories and dependencies in the Atlantic and Caribbean region (Puerto Rice and US Virgin Islands).
The Commercial Section is representative office of Ministry of Commerce and works in close coordination with the Trade Development Authority of Pakistan- Chambers of Commerce and Association in Pakistan . The Commercial Section also offers matchmaking services for intending importers/investors. It is responsible for providing up-to-date trade, investment and tariff policies of Pakistan.
Pakistan Remittance Initiatives
In order to provide for an ownership structure in Pakistan for remittance facilitation, State Bank of Pakistan, Ministry of Overseas Pakistanis and Ministry of Finance launched a joint initiative called Pakistan Remittance Initiative (PRI). This initiative shall take all necessary steps and actions to enhance the flow of remittances.
The initiative has been taken to achieve the objective of:
- Facilitating, Supporting, Faster, Cheaper, Convenient & Efficient flow of remittance
- To create investment opportunities in Pakistan for overseas Pakistanis.
Foreign Exchange Remittance Card (FERC)
Remittances by Overseas Pakistanis, through normal banking channels, are a vital source of balance of payments support for the country. Funds channeled through Hundi or other means bypass legal conduits and deprive the country of much-needed support. Cognizant of the problem of diminishing home remittances the government has initiated a concerted program to facilitate those Overseas Pakistanis who remit money through normal banking channels. Towards this end, a special package of Foreign Exchange Remittance Card (FERC) has been introduced by the Ministry of Finance in September 2001 to facilitate the overseas Pakistanis community. OPF has been nominated as the implementation authority. For more information about FERC, please click the link below: https://www.opf.org.pk/foreign-exchange-remittance-card/