Economy

Federal Government or State bank of Pakistan needs to promote the remittance sector as it has around 5% share in GDP. They should provide the incentives and motivation to the companies and Diasporas (Non-Resident Pakistani Abroad) that are transporting remittances into the country

Not enough existence in overseas jurisdictions of Pakistani banks and lack of marketing efforts are major obstacles to the remittance flow. PRI should provide financial incentive schemes for overseas organizations against mobilization of additional remittances.

PRI & SBP should monitor the market for remittances so that they should be crystal clear and have adequate consumer safety and security.

They should create ways to advanced the payment arrangement infrastructure that likely to enhance the competency of remittance services should be encouraged.

Improve assistance made by migrant associations to expansion schemes in countries of origin. As well as help to build up associations between government officials & migrant associations in countries of origin in order to facilitate improved associations among these parties and multiply the incomes available for development plans.

Cash over the counter payment system should be applied to all the banks in Pakistan except the five big giant banks.

To motivate the beneficiaries, SBP should introduce a customer handling system.

Publicize information on investment and saving options to Diasporas via common migrant resource centers for remittances.

Help build capacity for increasing consular services for non-resident Pakistanis, including database, so that allowing irregular Diasporas to use accessible formal remittance channels where possible.

PRI and SBP should monitor the role of remittance service provider so that they should contribute aggressively in the implementation of common principles.

As the percentage of remittance flowing through informal ways is quite huge so Commercial Banks with the help of PRI should create ways to downsize the frequency and flow of remittances through informal channels - i.e. Hundi.