Good News for Overseas Pakistani: PM Extends Remittance Incentive Scheme
In a move widely welcomed by the expatriate community, Prime Minister Shehbaz Sharif has announced the continuation of the Workers’ Remittance Incentive Scheme, reaffirming the federal government’s commitment to overseas Pakistanis and their role in national economic stability.
Chairing a high-level meeting in Islamabad, PM Shehbaz emphasized the vital contributions of overseas Pakistanis in achieving the country’s recent financial milestones. He described them as “the backbone of the economy”, praising their sacrifices and loyalty in sending billions back home through formal banking channels.
“The entire nation, including myself, values our overseas Pakistanis. Their commitment and sacrifices are instrumental in the development of Pakistan,” he stated.
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Official data reveals that remittances reached a record $38.3 billion in FY2025, marking a historic high. This significant inflow played a key role in Pakistan achieving a current account surplus—a first in 14 years.
The prime minister credited the overseas community for this economic breakthrough and directed immediate release of funds to support the Workers' Remittance Incentive Scheme (WRIS).
About the Workers’ Remittance Incentive Scheme (WRIS)
The WRIS encourages remittances through legal and formal banking channels, offering rewards and streamlining transfer mechanisms. The initiative is part of the government’s broader strategy to reduce dependence on external borrowing and bolster foreign exchange reserves through non-debt-creating inflows.
The continuation of this scheme reflects the government’s intent to:
- Incentivize overseas workers to use official remittance channels
- Promote transparency and financial security
- Stabilize the rupee and reduce the current account deficit
