ISLAMABAD: A number of pensioners, who are residing abroad, are drawing their pensions in foreign exchange to which they are not entitled to. The situation relating to current account balance of the country does not permit the federal government to allow pensioners residing abroad to draw pension in foreign exchange, said the Finance Division.

The Finance Division has taken note of the matter and issued an Office Memorandum (OM), advising to ensure that no pensioners, who have been appointed after 2nd January 1959 be allowed to draw pension in foreign exchange.

The OM stated as, “Instances have been reported to Finance Division that a number of pensioners, who are residing abroad, are drawing/trying to draw their pensions in foreign exchange.

The situation relating to current account balance of the country does not permit the Federal government to allow pensioners residing abroad to draw pension in foreign exchange. Further, in view of the digitization and worldwide accessibility of the banking channel, there would be no need for such permission.

In this regard, it is stated that Section IV of Chapter XLVIII of the Civil Service Regulations (CSR 966 — CSR 973) allows the grant of pension in foreign exchange to pensioners who are residing abroad after retirement. Finance Division, vide OM No. F1(10)EF(B.II)/79-2340 dated 17-11-1980 laid down procedure to be adopted for payment of pension in foreign exchange through Pakistani mission abroad.

Finance Division is of the definite view that these provisions are meant for those pensioners, who have been appointed before 2nd January, 1959 and the pensioners appointed on or after 2nd January 1959 are not entitled to draw their pension in foreign exchange.”

The Finance Division further stated that it is accordingly advised to ensure that no pensioners, who have been appointed on or after 2nd January 1959 be allowed to draw pension in foreign exchange.

Copyright Business Recorder, 2024