ISLAMABAD: In a bid to further encourage remittances through formal channels, the State Bank of Pakistan (SBP) launched a new ‘Diamond’ category of the Sohni Dharti Remittance Program (SDRP) that offers enhanced points and additional benefits to emitters.
The category will be effective from September 22, 2023, in addition to the existing three – Green, Gold and Platinum – categories of SDRP, a point-based loyalty program in which remitters accumulate reward points by sending remittances through formal channels of SBP-regulated entities.
Former Finance Minister Ishaq Dar in his budget speech for Fiscal Year 2023-24 announced the addition of the Diamond category with enhanced reward points and provision of other benefits like arms license of non-prohibited bore, preferential treatment at Pakistan embassies and airports, and gratis passport to the Diamond Category holders.
Reward points can be redeemed by the remitter and their beneficiary for availing free of cost products and services including the Emigrant Registration fee at the Bureau of Emigration and Overseas Employment; duty payment of imported mobile sets and vehicles to Federal Board of Revenue; School fee by Overseas Pakistanis Foundation (OPF); and renewal fee of passports at Directorate General of Immigration and Passports.
Moreover, benefits on redeeming reward points can also be availed on International air tickets and extra luggage charges by Pakistan International Airlines; life insurance or takaful premium payment at State Life Insurance Corporation; and purchases made at Utility Stores Corporation of Pakistan.
These reward points appear on the app in the form of a virtual card that updates automatically with reward points after each remittance.
Additional reward points redemption avenues like 1BILL and PayPak cards are also being offered in SDRP. The addition of these new avenues will provide benefits to remitters and their beneficiaries to pay bills and use PayPak cards at merchants and Pakistani e-commerce stores.