ECC approves Rs 30 billion TSG to clear TTCIS previous claims

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is expected to approve a Technical Supplementary Grant (TSG) to clear outstanding claims under the TT Charges Incentive Scheme (TTCIS).
The Government of Pakistan currently operates three home remittance incentive initiatives through the State Bank of Pakistan (SBP) and the Pakistan Remittance Initiative (PRI). Among these, the TT Charges Incentive Scheme—launched in 1985—is the flagship program. It offers a zero-cost, free-send model for both senders and recipients on eligible remittance transactions.
According to the SBP, home remittances during the fiscal year 2024–25 reached $38.3 billion. While Rs 64.9 billion had been budgeted for TTCIS for the same fiscal year, higher-than-expected remittance inflows led to reimbursement claims exceeding the allocated amount. As a result, claims amounting to Rs 58.2 billion remain outstanding from the last fiscal year.
Given the current fiscal constraints, it has been proposed that Rs 30 billion be released in the current quarter through a Technical Supplementary Grant. The remaining balance may be considered for release through available savings in upcoming quarters of the current fiscal year. Ends