OVERSEAS PAKISTANIS FOUNDATION

Ministry of Overseas Pakistanis & Human Resource Development, Government Of Pakistan

REMITTANCES OVERVIEW:

Remittances in Pakistan increased to an all-time high level to almost touch $20 billion in the closing financial year of 2015-16. According to statistics of State Bank of Pakistan (SBP), expatriate Pakistanis remitted $19.9 billion in 2015-16, showing a growth of 6.38% ($1.2 billion) compared with $18.7 billion received during 2014-15.The consistent growth in remittance inflows in Pakistan kept Pakistan among the top ten countries in terms of inflows in the world through their nationals settled in other countries mainly for the purpose of professional and business engagements. World Bank reports on Migration and Remittances mentioned Pakistan as top ten countries in the world with highest inflows of remittances. It included Pakistan’s name on the seventh place for the year 2015.

INTRODUCTION 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 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.

INCENTIVES

Overseas Pakistanis remitting foreign currency equivalent to US$2500 to US$ 50,000 per annum are entitled to the following incentives;

  • Five categories of remittance cards as per amount remitted.
  • Free Issuance and Renewal of passport on urgent basis.
  • Separate Counters for special handling at arrival and departure lounges at all International Airports in Pakistan.
  • Duty credit can also be utilized for seven items with fixed duty i.e., television, deep freezer, refrigerator, microwave oven, cooking range, washing machine and air conditioner.
  • Duty Credit in Pak. Rupees as per category of remittance card.
Type of FERC Amount Remitted Through Normal Banking Channel
(in US $ or equivalent foreign currency)
Duty Credit In Rs.
Silver 2500 or more 10,000
Silver Plus 5000 or more 20,000
Gold 10,000 or more 30,000
Gold Plus 25,000 or more 50,000
Platinum 50,000 or more 100,000

ADMISSIBILITY

  • The duty credit is admissible to a Pakistani national holding Foreign Exchange Remittance Card (FERC) once during validity of card.
  • The duty credit can be utilized for the accompanied, unaccompanied baggage or any purchase from any duty free shop.
  • The duty credit under this scheme is not utilizable on import of vehicles.
  • Utilization of duty credit is endorsed by the Customs on the passport of an FERC holder.
  • The Incentives are available for one year from the date of issuance of remittance cards.

ELIGIBILITY CRITERIA

    1. Remittance to be made through legitimate channel, minimum amount equivalent to US$ 2500 within one year from the date of application.
    1. Remitted amount to be credited to Pak Rupee account in bank in self account or beneficiaries account.
    1. Name of Remitter to be clearly mentioned on remittance receipt (s) issued by the Remitter’s Bank / Exchange Company.
    1. In case Remitter or Beneficiary is maintaining the Foreign Currency Account in Pakistan and the amount is acceptable for issuance of FERC, which was converted into Pak Rupee account. Documentary evidence must be provided by the applicant from the concerned bank branch on letter head pad duly sign / stamp.
    1. Amount (s) encashed from Foreign currency account through bank (s) and encashment certificate (s) on the prescribed format of State Bank of Pakistan must be provided with sign and stamp of the concerned bank.
    1. FERC will not be issued in case foreign currency encashed through Money Exchange (s) in Pakistan.
    1. FERC will not be issued on basis of self or beneficiaries account (s) statement (s) of Pakistani bank (s).
    1. FERC will not be issued on ATM receipt (s) on which name of Remitter is not reflecting on the receipt (s).
    1. Remittance receipts for period of last one year is acceptable from the date of application.
    1. FERC will not be issued / changed before the expiry date mentioned on the card.
    1. Applications received through Pak Missions, Online Portal and directly sent from abroad, FERC will be dispatched to Pak Mission through diplomatic Bag according to the notified schedule of Ministry of Foreign Affairs. Cards can also be sent on local address only in Pakistan through Postal Services.
    1. FERC will be handed over to the representative of Overseas Pakistanis on his written request from applicant along with copy of CNIC of receiving person.
    1. Duplicate FERC will be issued on written application duly attested by the concerned Pak Mission and same will be sent to the Pak Mission.

Following are not eligible for FERC:

  • Infant, Minors and persons below the age of 18 year are not entitled for FERC.
  • Student is not entitled for FERC.
  • Amount remitted in Foreign Currency Account in Pakistan and not converted/encashed into Pak Rupee Account through the bank.
  • Receipts of amount exchanged from Money Exchange Companies are not acceptable.
  • ATM Receipts without the identification of the Remitter's name.

HOW TO APPLY

  • The application form can be obtained from OPF website, Pakistan Missions abroad, OPF Head Office Islamabad and through Regional Offices located at Karachi, Quetta, Lahore, Multan, Peshawar and Mirpur (AJ&K).
  • The Pakistan Mission dispatch the application form to OPF Head Office Islamabad for issuance of FER Card after proper verification.
  • OPF issues the card and dispatch to concerned Pakistan Mission for onward deliverance to the applicants.
  • Card will not be dispatched to the applicant abroad.
  • One year back receipts of remitted amount will be accepted from the date of application for issuance of FER Card.

DELIVERY OF CARDS

  • OPF would return the prepared Remittance Cards to the concerned Pak Mission through diplomatic bag. Applicant have to collect his/her card from the Pak Mission by himself /herself.
  • FERC would be dispatched to the given address in Pakistan on the request of the applicant in writing.
  • Swift delivery of Foreign Exchange Remittance Card (FERC) at door step through DHL (payment will be made by the applicant).

ISSUANCE OF FERC CARDS

 Issuance of Foreign Exchange Remittance
Cards (FERC)
& OPF Membership Cards.

The following timelines are subject to receipt of complete documents from the applicants: –

Applications received of visiting OPs and their  Representatives at OPF Head Office Islamabad.

(i)

Scrutiny of documents

Within 1 hour

(ii)

Data entry in the
software

1 hour

(iii)

Printing of cards

Half an hour (on the
same day)

 2.             For applications received through Pak Mission.

(i)

Scrutiny of documents

Seven working days

(ii)

Data entry in the
software

Within next 7 working
days

(iii)

Printing of cards

Within five working
days

(iv)

Dispatched to Pak
Mission

Diplomatic bag* (As per
schedule)

 3.            Applications received through online portals of FERC & OPF Membership Cards.

(i)

Scrutiny of documents

Seven working days

(ii)

Printing of documents

Two working days

(iii)

Data entry in the
software

Seven working days

(iv)

Printing of cards

Three working days

(v)

Dispatched to Pak
Mission

Diplomatic bag*

(vi)

Response to incomplete
documents/payments

Seven working days

(vii)

Non
accessible applications

10 working days

 

*The subject cards will be dispatched through respective diplomatic bags through
Ministry of Foreign Affairs according to schedule as notified by the Ministry
of Foreign Affairs:

§  Weekly bag

§  Fortnightly bag

§  Monthly bag

On the request of the applicant, card is also dispatched  through postal services on local provided address in Pakistan.

SWIFT DELIVERY OF FOREIGN EXCHANGE REMITTANCE CARD (FERC) AT DOOR STEP THROUGH DHL (PAYMENT WILL BE MADE BY THE APPLICANT)

SWIFT DELIVERY OF FOREIGN EXCHANGE REMITTANCE CARD ON THE PROVIDED ADDRESS ABROAD THROUGH M/S DHL COURIER SERVICE INSTEAD OF SPECIFIED CHANNELS.

Such Overseas Pakistanis desirous  of urgent delivery of  Foreign Exchange Remittance card on the provided address abroad, may adopt the option of DHL Courier service after making the notified amount to the following bank account:-

IBAN Bank Account Number PK92ASCM0000581480800080
Title of Account OVERSEAS PAKISTANIS FOUNDATION
Bank ASKARI BANK LTD.

The applicant Overseas Pakistani may apply online web portal for issuance of Foreign Exchange Remittance Card along with requisite receipt of delivery charges of M/s DHL Courier service may also be attached with application for delivery of cards on fast track basis at the provided address abroad.

Country wise approximate rate list of M/s DHL is given below:-

S.NO. COUNTRY NAME DHL RATES IN PAK RUPEES PER ENVELOPE
1. ARGENTINA 11500
2. AUSTRALIA 8200
3. AUSTRIA 6500
4. BELGIUM 6500
5. BRAZIL 11500
6. BRUNEI 7000
7. CANADA 8500
8. CHINA 7500
9. CYPRUS 6500
10. DENMARK 6500
11. EGYPT 11500
12. FRANCE 6500
13. GERMANY 6500
14. GREECE 6500
15. HONG KONG 7500
16. ICELAND 11500
17. INDONESIA 7000
18. IRAN 11500
19. IRAQ 11500
20. IRELAND 6500
21. ITALY 6500
22. JAPAN 7500
23. JORDAN 5000
24. KENYA 11500
25. KOREA REP. OF (KR) 7500
26. KOREA D.P.R OF (KP) 11500
27. KUWAIT 5000
28. LIBYA 11500
29. MALAYSIA 7000
30. MEXICO 11500
31. NETHERLAND 6500
32. NEWZEALAND 8200
33. NORWAY 6500
34. OMAN 5000
35. QATAR 5000
36. SAUDI ARABIA 5000
37. SWEDEN 6500
38. SWITZERLAND 6500
39. TURKEY 5000
40. U.S.A 8500
41. UNITED ARAB EMIRATES (U.A.E) 5000
42. UNITED KINGDOM (U.K) 6000

For zone and rates for DHL Click here 

Attention:-

  1. DHL card delivery charges will be doubled of the above mentioned rates, if delivery is made in remote area of the host country as notified by the DHL.
  2. Notified amount may be remitted in OPF account and receipt of DHL charges must be attached.

Please remit the delivery charges accordingly.