Karachi
The meetings were also attended by Governor Sindh Ishratul Ibad and senior federal and provincial government officials.
Spokesperson Farhatullah
Babar said that talking
to the representatives
of leading money
exchange companies the
President said that the
government had given
increased incentives to
expatriate Pakistanis to
remit foreign exchange
to
He said the government recognized this sector of economy and wanted to strengthen it further through a policy of �recognize, incentivize and patronize�.
The President said that foreign remittances during 2007 were around 6 billion dollars which have increased to 11 billion dollars now due to the policy of incentives. The President said that there was great potential of further increasing the foreign remittance, which could cross the 15 billion dollars a year mark if the expatiate Pakistanis were offered adequate incentives. The President called upon the money exchange entrepreneurs to improve their services and play a more pro-active role.
The meeting on crop insurance was attended by Chairman State Life, representatives of ZTBL, State Bank, Finance Ministry and other senior officials.
The President said that
the crop damage due to
floods may be a
recurring feature due to
climate change and it is
necessary to introduce
crop insurance scheme in
He said that APTMA delegation which called on him last night had framed same proposals for crop insurance.
The President directed that the State Life and State Bank should work together with other stake holders and submit proposals to the government for crop insurance and reinsurance in the commodity market, Farhatullah Babar said.
The President said that modern mapping technology was available which could be employed to great advantage in crop insurance by offsetting the possibility of wrong claims.
