ISLAMABAD: The government has introduced a special program called the “Diamond Card” for Pakistanis living abroad, as announced by Finance Minister Ishaq Dar during his budget presentation in the National Assembly.
As part of this initiative, the two percent final tax imposed on overseas Pakistanis when purchasing immovable property will no longer apply.
Under the Diamond Card program, a new category of foreign exchange cards will be issued to individuals who send more than $50,000 in foreign exchange annually.
Holders of the Diamond Card will enjoy various benefits, including a non-prohibited bore arms license, a complimentary Gratis passport typically given to important government officials, and priority access to embassies and consulates.
Moreover, diamond cardholders will be provided with a fast track immigration facility at Pakistani airports. Additionally, the State Bank plans to launch a lottery-based scheme to offer substantial prizes to remittance cardholders.
This initiative aims to facilitate overseas Pakistanis and encourage higher remittance inflows, while also providing them with privileged services and benefits.