NRLP: The national remittance loyalty program has been approved by ECC ( Economic Coordination Committee). The Finance minister of Pakistan told that Pakistan has already achieved a goal of 29.4 Billion dollars in previous fiscal years through remittances due to successful policies of existing government.
Overseas Pakistani will get points against each transaction provided that total annual transaction is 10,000$ or higher.
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National Remittance Loyalty Program Pakistan (NRLP) is a new initiative of Pakistani government. The sole purpose of this scheme is to increase the volume of remittances as the current Pakistani government has decided to provide several incentives to overseas Pakistani citizens so that they may send more remittances to Pakistan through legal channels. Previously, Roshan Pakistan digital account scheme was launched in this regard which became very popular among overseas Pakistanis. The NRLP is another great program which is expected to launch soon.
National Remittance Loyalty Program App:
The ministry of finance has revealed some information about this upcoming program. According to spokes person, a designated app will be launched under NRLP. Overseas Pakistanis will be able to send money to receiver in Pakistan through this app. For each transaction, they will receive some points. It means some banks will also be associated with NRLP app. The state bank of Pakistan will launch and control the NRLP app.
The points collected for each remittance will be available in NRLP app. Overseas Pakistanis can redeem these points to use some Pakistani service. We can say, because of these points, overseas Pakistanis will have some discounts while paying fee for several Pakistani services like Paying passport fee, paying for PIA ticket etc.
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The National Remittance Loyalty Program App has not been launched yet. As Prime Minister Imran khan is especially emphasizing on facilitating overseas Pakistanis so it is expected that the inauguration of the app will be on 01 October 2021.
According to the latest news, NRLP App has already been developed for iOS and Android user in English and Urdu both language. 1-Link technology has developed these apps and developing cost was paid by the banks.
Departments included in NRLP:
NRLP Pakistan will work in collaboration of several Pakistani departments. This includes Overseas Pakistani foundation, PIA, State Life Insurance, NADRA, FBR, Benevolent and Old age employee fund and many other agencies and departments. As we know overseas Pakistanis have to use services of these departments and have to pay charges for these services. After the launch of NRLP app, they will get points for sending money through the app and later, they can use points to pay fee and have discounts in fee for these services.
How much points will you get for each transaction? this has not revealed yet. We have to wait for more details which is expected to be on screen very soon.
Benefits under NRLP:
Under NRLP scheme, a sender will get 1pc reward points if total transaction in one year is minimum 10,000$. from $10K to $30,000, 1.25pc reward points and 1.5pc reward for above $30,000. It means a sender may get reward up to 46,575 PKR, if annual remittance is 25,000$.