Islamabad December 31 2021: Economic Coordination Committee approved PKR cash incentives to exchange companies against each USD mobilized inward.
Federal Minister for Finance and Revenue Mr. Shaukat Tarin, presided over Economic Coordination Committee (ECC) of the Cabinet, today.
Finance Division tabled a summary on the proposal of SBP for incentives for exchange companies against surrender of foreign exchange in the interbank market. Under the proposal Exchange Companies may be provided cash incentives of PKR 1 against surrender of each USD mobilized from inward remittances.
A L S O || R E A D
Cabinet Committee on Privatization Removed MARI Petroleum From Privatization List
Exchange companies are required to surrender 100% of inward remittances in the interbank market. The ECC approved the proposal with direction to review the model to achieve further improvement.
Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Planning, Development and Special Initiatives Mr. Asad Umar, Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, Federal Minister for Energy Mr. Hammad Azhar, Federal Minister for Privatization Muhammedmian Soomro, Federal Minister for Railways Muhammad Azam Khan Swati, Federal Minister for Maritime Affairs Syed Ali Haider Zaidi, Federal Secretaries and senior officers participated in the meeting.
